Cryptocurrency analysts from Coinidol.com have reported that the price of Ethereum (ETH) is currently trading above the moving average lines but below the $1,900 resistance level. Long-term analysis suggests a bullish trend for Ethereum. However, buyers are finding it difficult to surpass the recent high reached on June 21. The price of Ether is currently hovering around $1,879.80, trading within a narrow range of $1,800 to $1,920. The market is expected to rise to the psychological price threshold of $2,000 once buyers overcome the recent high. Despite this, the current resistance level is in an overbought region, which may lead to a decrease in Ether’s value and a fall to the breakout level of $1,720. The Relative Strength Index and daily stochastic indicators also indicate that Ether is currently trading in a bullish trend zone, but the bullish momentum has slowed down. Key resistance levels for Ethereum are $1,800 and $2,000, while key support levels are $1,600 and $1,400. The trend for ETH/USD is currently sideways, with a range established for the sideways movement. As long as the resistance and support levels are not broken, Ether will continue to trade within this range. Coinidol.com has predicted a rise to the psychological price level of $2,000 in the near future for Ethereum.
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