Ethereum (ETH) has been trading above the psychological price barrier of $2,000 since November 22.
Long-term analysis of the Ethereum price: bullish
Ethereum coin is gradually rising and retesting the $2,131 level. Once buyers overcome the resistance at $2,131, Ether will reach a high of $2,200. At the time of writing, Ether has reached a high of $2,070.
According to the price indicators, the market will rise to a high of $2,198. However, the altcoin is trading in the overbought zone of the market. The current uptrend is expected to face resistance above the high of $2,200 as the market is considered overbought. If the altcoin is rejected at its recent high, it will trade between $2,000 and $2,200.
Analysis of the Ethereum indicators
On November 22, Ether resumed its uptrend as the bulls bought the dips after the bears fell below the 21-day SMA. The 21-day SMA has acted as support for the cryptocurrency as it has rallied. Ether continues to rise as the price bars move back above the moving average lines.
Technical Indicators:
Key resistance levels – $1,800 and $2,000
Key support levels – $1,600 and $1,400
What’s next for Ethereum?
The largest altcoin will most likely reach a high of $2,200. However, further gains above the $2,200 high are uncertain. At a high of $2,200, sellers will emerge and drive prices down. In the meantime, the largest altcoin has been slowly climbing upwards.
On November 20, Ether has risen above the psychological price barrier of $2,000 per coin.
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.com. Readers should do their research before investing in funds.
- SEO Powered Content & PR Distribution. Get Amplified Today.
- PlatoData.Network Vertical Generative Ai. Empower Yourself. Access Here.
- PlatoAiStream. Web3 Intelligence. Knowledge Amplified. Access Here.
- PlatoESG. Carbon, CleanTech, Energy, Environment, Solar, Waste Management. Access Here.
- PlatoHealth. Biotech and Clinical Trials Intelligence. Access Here.
- Source: https://coinidol.com/ethereum-aims-for-the-highest-price/
- :has
- :is
- :not
- 000
- 070
- 1
- 10
- 20
- 200
- 2023
- 22
- 24
- 36
- 900
- a
- above
- According
- After
- aims
- Altcoin
- an
- analysis
- and
- ARE
- AS
- At
- author
- average
- back
- barrier
- bars
- BE
- Bears
- been
- before
- below
- between
- bought
- Bulls
- buy
- buyers
- by
- Chart
- Climbing
- Coin
- COM
- considered
- continues
- cryptocurrency
- Current
- daily
- do
- down
- drive
- emerge
- Endorsement..
- ETH
- Ether
- ethereum
- Ethereum Price
- expected
- Face
- For
- Forecast
- funds
- further
- Gains
- gradually
- High
- highest
- hour
- However
- HTTPS
- if
- in
- Indicators
- info
- investing
- IT
- ITS
- jpg
- largest
- Level
- levels
- likely
- lines
- Market
- meantime
- most
- move
- moving
- moving average
- next
- nov
- November
- of
- on
- once
- Opinions
- or
- Overcome
- per
- personal
- plato
- Plato Data Intelligence
- PlatoData
- price
- Prices
- psychological
- reach
- reached
- readers
- recent
- Recommendation
- Rejected..
- research
- Resistance
- Rise
- Risen
- rising
- s
- sell
- Sellers
- should
- since
- Slowly
- SMA
- Struggles
- support
- support levels
- The
- their
- this
- time
- to
- trade
- Trading
- Uncertain
- uptrend
- upwards
- will
- writing
- zephyrnet