Ethereum (ETH) has managed to re-enter the uptrend zone after retesting the resistance at $1,700. Buyers have been able to keep the price above the resistance, but they were not able to maintain the upward momentum and the largest altcoin is currently trading in a small range between $1,600 and $1,700. If the price of the cryptocurrency breaks through the resistance of $1,700 and the upward momentum is maintained, it will resume its upward movement and reach highs of $1,800 and $2,000. On the other hand, if the price falls below the 21-day line SMA on the downside, the uptrend will end and the altcoin will reach a low of $1,500.
Ether has regained positive momentum from period 14 level 58 of the Relative Strength Index. As long as the price bars remain above the moving average lines, the altcoin will continue to rise and retest the resistance level. The daily stochastic is at 40, where the cryptocurrency is in positive momentum, but the upward momentum is currently slowing down.
The key resistance levels for Ethereum are $2,000 and $2,500 and the key support levels are $1,800 and $1,300. Despite the positive momentum, the price has stopped at the high of $1,700. There is a chance that it will continue to rise and retrace to the 1.618 Fibonacci extension level or $1,913.68.
The Ethereum market is currently in an uptrend, but it is important to remember that the cryptocurrency market can be volatile and unpredictable. It is important for investors to do their own research and make sure they understand the risks associated with cryptocurrency investing before making any investment decisions.
The analysis and forecast provided in this article are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency. Investors should do their own research and make sure they understand the risks associated with cryptocurrency investing before making any investment decisions.
The Ethereum market has been in a bullish trend over the past few weeks, but the price has been stuck in a sideways trend below $1,700. Buyers have been able to keep the price above the resistance, but they have not been able to maintain the upward momentum. The largest altcoin is currently trading in a small range between $1,600 and $1,700.
Ether has regained positive momentum from period 14 level 58 of the Relative Strength Index. As long as the price bars remain above the moving average lines, the altcoin will continue to rise and retest the resistance level. The daily stochastic is at 40, where the cryptocurrency is in positive momentum, but the upward momentum is currently slowing down.
The key resistance levels for Ethereum are $2,000 and $2,500 and the key support levels are $1,800 and $1,300. Despite the positive momentum, the price has stopped at the high of $1,700. There is a chance that it will continue to rise and retrace to the 1.618 Fibonacci extension level or $1,913.68.
If the price of Ethereum breaks through the resistance of $1,700 and the upward momentum is maintained, Ether will resume its upward movement. The recovery of the market will lead to highs of $1,800 and $2,000. On the other hand, if the price falls below the 21-day line SMA on the downside, the uptrend will end and the altcoin will reach a low of $1,500.
It is important for investors to be aware of the risks associated with cryptocurrency investing and to do their own research before making any investment decisions. It is also important to remember that the cryptocurrency market can be volatile and unpredictable, so investors should be prepared for any potential losses.
Overall, the Ethereum market is currently in an uptrend, but it is important to keep an eye on the market and be aware of the risks associated with cryptocurrency investing before making any investment decisions.
