Coinidol.com: Ethereum Tests the $2,000 Psychological Level

Ethereum's price has reached the psychological mark of $2,000, but has failed to maintain its recent high.

Ethereum Price Long-Term Analysis: Ranging

The largest altcoin has retraced above the moving average lines, or the $1,800 support. On the downside, if this support holds, the upward price range will remain above $1,800 but below the $2,000 high.

On the upside, if buyers break the $2,000 barrier, Ether will rise to $2,400. If sellers push the price below its $1,800 support, Ether will revert to its bottom price above $1,500. According to the charts from the crypto converter on Coinidol.com the price of ETH on July 28 is moving around $1,876 and $1,914.

Technical indicators: 

• Resistance Levels: $3,500 and $4,000

• Support Levels: $2,000 and $1,500

Ethereum Indicator Analysis

The 21-day SMA is above the 50-day SMA, indicating that the Ether price is rising. The upward price movement will continue as long as the cryptocurrency remains above the moving average lines.

On the 4-hour chart, the price bars are below the upward-sloping moving average lines. The rising price movement will continue as Ether's price remains above its critical support.

What Is the Next Direction for Ethereum?

Ethereum's price has remained above the $1,800 support level and below the $2,000 high since July 17. The rising price movement was halted at the recent high.

Today, the ETH price has rebounded from the $1,800 support level for the third time. The price of Ether is likely to rise as it remains above this crucial support. A break above the moving average lines will signal the start of a new uptrend.

Disclaimer. This analysis and forecast are the personal opinions of the author. The data provided is collected by the author and is not sponsored by any company or token developer. This is not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by Coinidol.com. Readers should do their research before investing in funds.