Long-term Ethereum price analysis: optimistic

The largest alternative cryptocurrency is trading above the support level of $1,800 but below the all-time high of $1,920. The price indicator forecasts a rise to the symbolic price level of $2,000 in the near future. At the time of writing, the peak price of Ether was $1,886.40.

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If purchasers overcome the $1,920 resistance, Ether will advance to a peak between $2,000 and $2,100. Nevertheless, if the altcoin is denied at the recent high, its price will decline and be compelled to trade between $1,700 and $1,800. Ether is currently trading just below the $1,900 mark.

Analysis of Ethereum signalling

Ether has a Relative Strength Index level of 58 for the period of 14 days. The altcoin is experiencing a favorable trend and has the potential for further appreciation. If the price bars rise above the moving average lines, the greatest alternative cryptocurrency will gain. The adverse momentum has halted below the daily level of 80 for the stochastic indicator. Buyers are withdrawing in

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preparation for a potential uptrend.

Statistical Indicators:

Important levels of resistance – $1,800 and $2,000

Important support levels are $1,600 and $1,400

What is the future course of Ethereum?

The ETH/USD 4-hour chart reveals a rebound. The altcoin has reclaimed the $1,800 support level, signaling that the uptrend has resumed. If Ether rises above $1,800, the altcoin will surge. The price increase will approach the psychological threshold of $2,000. The psychological price level of $2,000, however, will increase selling pressure on the recent high.

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As investors purchased declines on June 19, 2023, Coinidol.com reported that the downtrend broke below the crucial support level of $1,700. Today, buyers drove the largest altcoin above the $1,700 support level.