On December 11, the price of Ethereum (ETH), which had risen above its 21-day SMA, resumed an upward trend. ETH price analysis from CryptoGuestPosts.

Long-term Analysis of the Ethereum Price: Bullish

The bulls failed to maintain the upward trend above the $4,000 high on 6 December. The bears tried to defend the recent high, and pushed Ether below 21-day SMA.

The two trading opportunities between the SMA 21 days and the resistance of $4,000 have led to the biggest altcoin trade in a range.

Ether is currently on a high and approaching $4,000 for the second consecutive time. Due to the doji candles, bullish momentum is slowing down. Ether will likely rise in value above $4,000 if the current barrier is broken. The biggest altcoin is expected to reach a new high of $4.500.

If the altcoin is rejected, it will continue to move in a sideways direction below the psychological level.

Analysis of the Ethereum indicators

Ether's bars continue to climb above the moving-average lines. The price bars consist mainly of doji candles, which indicates that the altcoin has a low trading volume. Ether's price bars are above the horizontal moving-average lines on the 4-hour chart. Doji candlesticks have been consolidating and the movement forward is dubious.

Technical Indicators

Resistance levels - $4,000 to $4,500

Support levels - $3.500 & $3,000

What is the future direction of Ethereum?

The price of Ether is hovering just above the $3.900 support level, but remains range bound. Since the end the first uptrend the altcoin is trading above the $3.500 support but below the $4,000 high. Ether is consolidating and the price is moving slowly.

A price increase will push the $4,000 barrier.

Disclaimer. This analysis and forecast is the author's personal opinion. It does not constitute a recommendation for buying or selling cryptocurrency. CryptoGuestPosts has not approved it. Before investing in funds, readers should conduct their own research.