Ethereum Confronts Resistance at $1,900 as It Trades in a Narrow Range

Ethereum ETH) Current Statistics
The current price: $1,801.68
Market Capitalization:$216,486,543,319
Trading Volume: $5,655,399,988
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis May 26, 2023
Ethereum (ETH) price is restricted to a range that is below the moving average lines as it trades in a narrow range. The price of Ether is fluctuating in a small range between $1,750 and $1,850. Ether has been consolidating above the $1,770 support since the price crash on May 11. Doji candlesticks dominate the price movement. These candlesticks result in a sluggish price movement. The candlesticks show that buyers and sellers are unconcerned about the market’s direction. On the upside, the moving average lines or $1,900 present resistance for Ethereum. When the levels are broken, the altcoin will resume its bullish trend. The price action displays long candlestick tails on the downside. The extended candlestick tail indicates strong buying at lower price levels.

ETH Technical Indicators Reading
Ether is at level 45 for period 14 on the Relative Strength Index. Due to the recent price consolidation, the RSI has remained constant. Because the price bars are lower than the moving average lines, Ether is likely to decrease. Ether is experiencing a bearish momentum and is below the daily Stochastic’s level 50.

Conclusion
The largest altcoin is trading in the bearish trend zone as it trades in a narrow range. When the altcoin encounters a price rebound and a breakout, Ether will trend. The candlesticks show that the altcoin will trade in a narrow range for a few days. The pricing hasn’t changed at all recently.

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