Ethereum (ETH), the price of which is on an upward trend, reached a peak of $3,944 in May before reversing. CryptoGuestPosts provides a price analysis.
The biggest altcoin has now dropped below the $3.900 resistance level. Ether fluctuates below its recent peak for the past four days. This has ended its upward trend. The doji indicates a lack of confidence between buyers and vendors regarding the market's direction.
The price indicator indicates that a possible upward movement and reversal is predicted at the highest point of the Fibonacci extension of 1.272 or $4,225.66. Ether will drop to $3,440 if it fails at the $3.900 resistance level. Ether's current value is $3,755.66.
The price bars of Ether are above the moving mean, following the vertical trend. The positive momentum however faded as the altcoin reached resistance at $3.900. On the 4-hour graph, the bullish trend has slowed and the altcoin appears to be trapped between moving average lines. Before the altcoin's trend continues, the price of the cryptocurrency is expected to oscillate between moving averages.
Key Resistance Levels - $4,000 and $2,500
Support levels for $3,500 and $3,000
Ether is below the 21-day SMA on the 4-hour chart but above the 50 day SMA. The market will reach its previous high if buyers manage to break through the $3,800 barrier. If the biggest altcoin does not resume a positive pattern above the resistance level it will continue to fall. The altcoin is still below the resistance.
Disclaimer. This analysis and forecast is the author's personal opinion and not a recommendation for buying or selling cryptocurrency. It should not be seen as an endorsement from CryptoGuestPosts. Before investing in funds, readers should conduct their own research.
The price of Ripple remains within a tight range between the $0.46 resistance and the moving-average lines.
The sideways trend continues, as bulls cannot break above the SMA of 50 days. On May 20, XRP rose and broke above moving average lines. However, the price stalled around the 50-day SMA. If the bulls had broken through the barrier of the 50-day SMA, the cryptocurrency could have reached a maximum of $0.57.
Altcoins are currently on a downward slide. If the downward trend breaks below the SMA of 21 days, the current support level at $0.46 will be tested again. If the crucial support level of $0.46 is breached, XRP could drop as low as $0.41. XRP is currently between the moving-average lines. It is worth $0.53.
The price bars have fallen within the moving-average lines due to a false breakout. Altcoin has pulled back after it was rejected at the SMA 50-day. The 50-day SMA has stopped the upward trend. The altcoin's uptrend will resume if buyers can break through the 50-day SMA resistance at $0.54.
Key Resistance Levels - $0.80 to $1.00
Key Support Levels - $0.40 & $0.20
Today, buyers struggle to maintain the bullish momentum over the 50-day SMA. They also face resistance at $0.54. If XRP is not accepted at the 50-day SMA, then this current choppy trend could continue. If buyers succeed, however, an upward trend will start.
Disclaimer. This analysis and forecast is the author's personal opinion and not a recommendation for buying or selling cryptocurrency. It should not be seen as an endorsement from CryptoGuestPosts. Before investing in funds, readers should conduct their own research.
