Ethereum Continues Its Swings but Confronts the $3,700 High

Ethereum (ETH) Current Statistics
The current price: $3,572.74
Market Capitalization: $429,032,333,502
Trading Volume: $18,973,228,711
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis March 26, 2024
Ethereum’s (ETH) price has been stuck between the moving average lines but confronts the $3,700 high. The moving average lines have restricted the price movement of Ether. The moving average lines were not broken by either the bulls or the bears.

Nonetheless, the bulls are retesting the 21-day SMA, or resistance at $3,700. The current price volatility will persist if the bulls fail to break above the 21-day SMA. Ether will decline and return to the 50-day SMA. On the upside, if buyers sustain the price above the 21-day SMA, Ether will rise to its previous high of $4,100.

Conversely, ETH/USD would drop if the bears broke below the $3,200 support level or the 50-day SMA. The altcoin will fall further, reaching a low of $2,900.Ether is now worth $3,576.30.

ETH Technical Indicators Reading
The biggest altcoin is still trading between the moving average lines, notwithstanding recent price fluctuations. Ether’s price will continue to fluctuate between the 21-day and 50-day SMA moving average lines. When the moving average lines are breached, Ether will begin to trend.

Conclusion
On the 4-hour chart, Ethereum is declining below the moving average lines but confronts the $3,700 high. Nonetheless, the cryptocurrency’s price fluctuates between $3,160 and $3,700. The cryptocurrency’s price remains trapped at both extremities of the pricing range.

Buyers attempted to resume a bullish trend but failed at the recent high. The cryptocurrency’s signal has been range-bound since March 19, 2024.

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