Ethereum Recovers And Takes Aim At The Psychological Mark Of $2,000
Ethereum (ETH) price is recovering after hitting a low of $1,844.
Long-term analysis of the Ethereum price: bullish
At the time of writing, Ether has risen to a high of $1,897.10. Buyers are pushing the altcoin to regain its previous highs. According to the price indicator, Ether will rise to a maximum of $2,000. The $2,000 psychological price level for Ether will be reached if the $1,900 resistance level is overcome and the bullish momentum is maintained. On the downside, bulls buying the $1,844 low helped Ether survive the April 8 decline. Ether is back in an uptrend and has gained bullish momentum.
Ethereum indicator analysis
Ether has a Relative Strength Index of 62 for the period 14. The altcoin is pushed by buyers to reach its previous high of $2,000. The price bars are above the moving average, which guarantees a continuation of the uptrend. Ether is moving up above the daily stochastic of 70. As it approaches the overbought area of the market, the altcoin is rising.
Key resistance levels – $2,000 and $2,500
Key support levels – $1,800 and $1,300
What is the next direction for Ethereum?
Ethereum is in an uptrend as it approaches the overbought area of the market. If Ether breaks above the resistance at $1,943, a rally above the $2,000 price level can be expected. The Ether price is barely moving as it waits for the initial resistance to be broken.
Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their research before investing in funds.
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