Ethereum is struggling above $3,800, reaching overbought conditions.

Ethereum (ETH) price has retested the $3,800 resistance for a second time as buyers try to maintain upward momentum above this level.

Long-Term Analysis of Ethereum Price: Bullish

Buyers plan to push the largest altcoin up to $4,000. On March 5, Ethereum tested resistance around $3,805, but soon fell to a low of $3,200. Bulls immediately bought the dip and Ether returned to its all-time high of $3,830 at the time of this writing.

The extended candlestick tail on March 5 indicates significant buying pressure near the $3,200 support level. The bulls tested this obstacle a second time. On the positive side, if buyers maintain the bullish momentum, Ethereum could rise as high as $4,000. On the downside, if the $3,200 support line or the 21-day SMA were violated, Ethereum would have fallen further. Ethereum will reach a low of $2,735.

Ethereum indicator analysis

After the recovery, Ether’s price bar is now above the moving average line. This led to the rise of Ethereum. The cryptocurrency has become overbought as buyers failed to reach its recent high of $3,800. The moving average continues to slope north, indicating an upward trend.

Technical indicators:

Key Resistance Levels – $3,400 and $3,800

Key Support Levels – $3,000 and $2,600

What’s next for Ethereum?

Ether’s price has hit resistance twice at $3,800 and buyers are struggling to maintain positive momentum. Ethereum is currently trading between $3,200 and $3,800. The digital asset held above $3,800. If existing support levels hold, the upward trend will continue.

disclaimer. This analysis and predictions are the personal opinions of the author and are not a recommendation to buy or sell any cryptocurrency and should not be considered an endorsement by CoinIdol.com. Readers should do their research before investing in any fund.