Ethereum Price Analysis: Bullish Momentum Continues
The latest price analysis of Ethereum (ETH) reveals that the altcoin’s price has been steadily rising and has surpassed its moving average lines. The bulls initially struggled to break the 50-day line SMA, but they have managed to do so. Currently, Ether is retreating as it approaches the overbought area of the market. However, if the price finds support above the moving average lines, the current uptrend will resume. The next targets for Ether are $1,740 and $1,800.
Ethereum Indicator Analysis
Ether is currently at level 59 on the Relative Strength Index (RSI) for a period of 14, indicating a positive trend. Additionally, the price bars are above the moving average lines, signifying a continued rise in the cryptocurrency’s price. The altcoin is also in an uptrend as it surpasses the 80 level on the daily stochastic indicator. However, caution should be exercised as Ether has entered the overbought zone.
Technical Indicators
The key resistance levels for Ethereum are $1,800 and $2,000, while the key support levels are $1,600 and $1,400.
What’s Next for Ethereum?
Ethereum’s price has successfully surpassed its moving average lines and resumed a positive trend. However, it is currently declining after reaching a high of $1,688. If Ether maintains its position above the moving average lines, the uptrend will continue. On the other hand, if it falls below the 50-day line SMA, the uptrend will come to an end.
On September 25th, it was reported that Ethereum’s price was falling rapidly after losing critical support at $1,600.
Hot Take: Ethereum’s Bullish Momentum Continues to Drive the Altcoin’s Price
Ethereum (ETH) has been experiencing a bullish trend, surpassing its moving average lines and reaching new highs. The altcoin’s positive momentum has led to a surge in price, with targets set at $1,740 and $1,800. Despite some retreat as it nears overbought levels, if Ether finds support above the moving average lines, the current uptrend will resume. However, caution is advised as the altcoin may face resistance at $1,800 and $2,000. Overall, Ethereum’s future direction looks promising as long as it remains above the 50-day line SMA.
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