Since the upward trend was stopped on May 13, Ethereum has moved sideways. CryptoGuestPosts.com provides a cryptocurrency price analysis.

Long-term Analysis of the Ethereum Price: Bullish

The biggest altcoin, however, failed to surpass the $2800 mark, but it did reach a high of 2,737. The altcoin then began to fall and move sideways, below the $2,800 barrier and above the $2,400 support. The bears repeatedly tested the support at $2400. If it loses this support, it will fall over the 21-day SMA or the low of $2200. Ethereum is currently trading above $2.502 and will likely continue its upward trend if the $2.400 support is maintained. Altcoins will continue to rise and test the $2,800 mark. Ethereum will start an upward trend if $2,800 or $2,400 resistance is broken.

Analysis of the Ethereum Indicator

The long tails of the candles are visible on May 18 and 19. This shows strong buying pressure over the $2,400 level of support. Ethereum's price bars have retraced, and are now above the 21-day SMA. The value of cryptocurrency will continue to increase. On the 4-hour chart, the horizontal moving-average lines indicate a sideways trend.

Technical indicators

Key Resistance Levels - $4,000 and $2,500

Support levels for $2,000 and $1500

What is the future direction of Ethereum?

Ethereum has reversed its trend and is still above the moving-average lines. As long as the largest altcoin remains above its 21-day SMA, it is expected to maintain its upward trend. Ether's 4-hour chart shows it moving sideways above the $2400 support level and below the resistance of $2700. Once these levels have been broken, Ether will begin a new trend.

Disclaimer. Disclaimer. This analysis and forecast is the personal opinion of the author. These are not recommendations to buy or trade cryptocurrency, and should not be seen as endorsements by CryptoGuestPosts. Before investing in funds, readers should conduct their own research.