Ethereum Consolidates but Stays below the $1,880 High

Ethereum ETH) Current Statistics
The current price: $1,861.61
Market Capitalization: $223,766,469,440
Trading Volume: $4,090,566,617
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis July 28, 2023
Ethereum (ETH) price is still trading between the moving average lines but stays below the $1,880 high. In other words, the most valuable altcoin has been locked between $1,800 and $1,900. The bears have retested the $1,800 level, which is lower than the resistance level.

Buyers have been steadfast in their defense of the existing support. Today, Ether is climbing, reaching a high of $1,863. On the plus side, if Ether rebounds above its present support level, the market will surge to a high of $2,000. Nonetheless, if the bears break below the 50-day SMA, Ether’s downtrend will resume.

ETH Technical Indicators Reading
It is categorized as a range bond since the price bars have remained in between the moving average lines. Ether is at Relative Strength Index period 14 level 46. Ether is likely to fall in the bearish trend zone. The coin is rising over the 25th level of the daily Stochastic.

Conclusion
During the confinement period, Ether has been consolidating above the existing support but stays below the $1,880 high. Doji candlesticks have dominated the price activity. The price movement has been sluggish due to the presence of Doji Candlesticks. The upward movement has been halted below the $1,880 high.

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