Ethereum Rises as Buyers Recoup Above $1,900

Ethereum (ETH) Price Long-Term Prediction: Ranging

The price of Ethereum surges as buyers recoup above the 21-day SMA support or the $1,900 high. On August 10, sellers drove the price below the 21-day SMA. Sellers were unable to maintain the bearish momentum as the cryptocurrency price approached the 50-day SMA support after falling below the 21-day SMA support. Today, buyers have the upper hand as they try to push the price above the 21-day SMA level.

On the plus side, if buyers are successful, Ethereum will rise and retest the $2,000 psychological price barrier. In the meantime, buyers are still battling to push the price above the 21-day SMA barrier. If sellers continue to push the price below the moving average lines, the largest altcoin will return to its range above the 50-day SMA support. Ethereum is currently valued at $1,911 as of writing.

Technical indicators

Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $2,000, $1,500

ETH Technical Indicators Reading:

Following the latest price increase, the Ether price is now above the 21-day SMA support level. However, the cryptocurrency price has yet to close above the moving average line as of writing. If Ether closes above the 21-day SMA support, it is expected to continue its upward trend. If Ether fails to close above the 21-day SMA barrier, it will fall between the moving average lines.

What Is the Next Move for Etherem (ETH)?

Ethereum is in an upward retracement as buyers recoup above $1,900. On the 4-hour chart, the cryptocurrency price has failed to close above the moving average lines. The bullish ascent of Ether has stalled below the $1,920 barrier. Buyers have been struggling to maintain the bullish ascent above the $1,920 barrier since August 5. Today, Ether risks falling if it is rejected again at its current high.

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