Ethereum Circles above $1,800 as It Begins a New Rally

Ethereum ETH) Current Statistics
The current price: $1,853.16
Market Capitalization: $223,227,307,331
Trading Volume: $4,981,592,446
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $1,500, $1,000

Ethereum (ETH) Price Analysis April 9, 2023
Ethereum (ETH) price has moved back above the moving average lines as it begins a new rally. The largest altcoin reached a high of $1,943 prior to its regression.Ether fell short of the $2,000 psychological price barrier. After the retracement, the largest altcoin is currently trading at $1,852.50. On the plus side, Ether’s price will surpass the $1,900 resistance level if it rises back above the $1,800 support level. The bullish trend will continue to increase over the $2,000 high. To the downside, the current decline may extend if Ether drops beneath the $1,850 support. The altcoin will be compelled to stay in a range between $1,700 and $1,850.

ETH Technical Indicators Reading
Ether’s Relative Strength Index level for period 14 is 58. The bullish trend zone is still present for Ether, which might increase to reach the $2,000 psychological price barrier. The current increase in the value of the currency is caused by the price bars being above the moving average. The bears’ downward momentum has paused below the daily Stochastic barrier of 40.


Conclusion
The $1,850 support has become more stable as it begins a new rally. The price will resume moving up if it stays over the $1,850 support level. If the support level of $1,800 is breached, Ether will restart its range-bound movement. The $1,800 support is currently being circled by Ether.

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