Since October 1, the price of Ethereum (ETH), has moved steadily under the moving average line. ETH has remained above the $2,300/2,400 support levels.

Ethereum long-term price analysis: bearish

At lower prices, the selling pressure is lessening. Ether has now traded above the $2400 support level.

A price increase above the current level of support will push Ether's moving average line above it. The upward trend will continue until the next resistance level of $2,800. Once buyers have broken above the resistance of $2,800, an uptrend will begin. Ether's price could rise to $3,400 if the buyers succeed.

Ethereum Indicator Analysis

On the 4-hour chart, the price bars of the largest altcoin are above the moving-average lines. Ether's price is consolidating and could be heading up.

Technical Indicators

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

Support levels - $3.500 & $3,000

What is the future direction of Ethereum?

Ether's price has moved sideways since the October 3 drop. Candles with small bodies and indecisive flames have limited the price movement.

The cryptocurrency price is now above the moving-average lines. Ether is facing an initial hurdle at $2,400.

Disclaimer. Disclaimer. This analysis and forecast is the author's personal opinion. 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.