After breaking the moving averages, Ethereum's price rose to $2,732 before being rejected.

Ether's upward trend was stopped when it fell above $2,500.

Ether fell as soon as the bears broke beneath the moving average line or the $2,500 resistance. The biggest altcoin returns back to the key support of $2,300.

Analysis of the Ethereum Indicator

Ether's price bars now exceed the moving average lines after the recent drop.

The price bars of Ether remain below the moving-average lines, which indicates that the cryptocurrency's value will continue to fall.

Technical Indicators

Major Resistance Levels - $4,000 to $4,500

Major Support levels - $3.500 to $3,000

What is the future direction of Ethereum?

Yesterday, moving average lines resisted the upward surge, suggesting a possible bitcoin decline. On October 2, ETH is priced at $2,431.

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.