The Current State of Ethereum Price
The price of Ethereum (ETH) has held its recent high of $2,131 but has fallen back above the $2,000 support level.
Long-Term Analysis of the Ethereum Price: Bullish
After falling to a low of $2,013, the largest altcoin is on the rise again. Ether’s current upswing will be interrupted if the bears fall below the psychological price threshold of $2,000. If that happens, the altcoin will experience a sharp decline. Ether will initially fall to a low above the $1,800 support level. If the buyers manage to keep the price above the high of $2,200, the positive trend will intensify. Should the buyers prevail, the bullish momentum will extend to a high of $3,000.
Analysis of the Ethereum Price Indicators
Ether is recovering after the recent setback above the $2,000 support level. On the 4-hour chart, the retracement has fallen below the 21-day SMA but is above the 50-day SMA. Ether is expected to continue trending sideways as it is trapped between the moving average lines. Ether will resume its climb if buyers keep the price above the 21-day SMA and the $2,136 resistance level.
Technical Indicators
Key resistance levels – $1,800 and $2,000
Key support levels – $1,600 and $1,400
What is Next for Ethereum?
The Ethereum coin is still trading above the psychological price level of $2,000 per coin. After the price drop on November 9, it is now trading between $2,000 and $2,135 per coin. If the resistance levels of $2,135 and $2,146 are broken, the current uptrend will continue.
It was reported in our previous Ethereum price analysis that bulls have broken through resistance levels as the price rose to a high of $2,131 on November 9.
Hot Take: The Future of Ethereum Price
The future looks promising for Ethereum as it continues to trade above key support levels and shows signs of an uptrend if resistance levels are breached. The bullish momentum could extend to new highs if buyers manage to maintain control and push past current barriers.
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