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The Ethereum price has resumed its upward trend and surpassed the psychological mark of $3,000.
Ethereum price long-term analysis: bullish
Buyers and sellers have been battling for the $3,000 mark since July 10, as reported by Coinidol.com. Buyers made two unsuccessful attempts to sustain the bullish momentum above the $3,000 level.
On the 15th of July, buyers broke through the $3,000 level and rose to a high of $3,175. The bullish momentum has stalled below the $3,200 high. The price indication has shown that the cryptocurrency will continue to rise.
Meanwhile, Ether is in a slight retracement from its $3,200 high and is now worth $3,149.
ETH price indicators analysis
On the weekly chart, the moving average lines are still pointing downwards, but the price bars are above them, indicating an uptrend.
The price bars are above the upward moving average lines, indicating an uptrend. The uptrend ends when the bearish price breaks below the upward sloping moving average lines.
Technical Indicators:
Key Resistance Levels – $4,000 and $4,500
Key Support Levels – $2.000 and $1,500
What is the next move for ETH?
Ether is on its way back to its previous high of $3,500 after falling below the $3,000 mark. The uptrend has stalled below the $3,200 mark. The uptrend will continue once buyers maintain their positive momentum above $3,200. In the meantime, the altcoin is oscillating above the $3,100 support level but below its previous high.
Disclaimer. This analysis and forecast are the personal opinions of the author. They are 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.