Ethereum Is Under Selling Pressure Again At $1,920

Ethereum (ETH) price is falling above the moving average lines.

Long-term analysis of the Ethereum price: bullish

The largest altcoin has failed three times at the $1,920 level. The price has fallen because buyers have been unable to keep it above the $1,920 mark. At the time of writing, the market had fallen to a low of $1,867.90. The price of Ether is currently hovering between $1,750 and $1,920, and if Ether falls back below the moving average lines, the price will drop to a low of $1,750. Since then, the Ether price has crossed either the moving average lines or the $1,800 support, and the altcoin has a tendency to retest the previous high if the $1,800 support holds.

Ethereum indicator analysis

The largest altcoin, Ether, is experiencing a slight decline as it reaches level 51 in the Relative Strength Index for period 14. This could indicate that the cryptocurrency’s price has risen above the level where supply and demand are balanced. Currently, the price bars are above the moving average lines, indicating a potential rise. The largest alternative currency is below the daily stochastic threshold of 20. Ethereum has fallen into the oversold zone of the market.

Technical Indicators:

Key resistance levels – $2,000 and $2,500

Key support levels – $1,800 and $1,300

What is the next direction for Ethereum?

Ethereum is falling now as buyers were unable to break the $1,920 level. The altcoin is falling as it moves above the moving average lines. Ether will rise if it continues to trade above the moving average lines. However, Ether will fall to the lower price range and start fluctuating again.

Disclaimer. This analysis and forecast are the personal opinions of the author and are not a recommendation to buy or sell cryptocurrency and should not be viewed as an endorsement by CoinIdol. Readers should do their research before investing in funds.

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