Ethereum (ETH) Price Analysis: Ether Fluctuates Between $3,960 and $4.400, Up-trending Unlikely

Highlights
Ethereum fluctuates between $3,960 and $4.400
Ether trades in a sideways trend

Ethereum ETH) Current Statistics
The current price: $4,210.54
Market Capitalization: $498,828,588,868
Trading Volume: $20,506,959,943
Major supply zones: $4,000, $4,500, $5,000
Major demand zones: $3,500, $3,000, $2,500

Ethereum (ETH) Price Analysis November 24, 2021
Ethereum’s (ETH) price has continued to fluctuate between the two moving averages. Ether will only trend when the moving averages are breached. Yesterday, buyers pushed the altcoin but could not break above the 21-day line moving average. Today, Ether is declining to the 50-day line moving average. This has been the price action since November 18. When price breaks below or above the moving average and the momentum are sustained then we have a trend.

ETH Technical Indicators Reading
Ethereum is at level 48 of the Relative Strength Index for period 14. It indicates that the altcoin is in the downtrend zone and below the centerline 50. Ether’s price is between the 21-day line and 50-day line moving averages indicating a sideways move. Ether is below the 80% range of the daily stochastic. The market is in a bearish momentum.

Conclusion
On the 4 hour chart, Ethereum is still in a downward move. The downtrend is likely to resume as it faces rejection at $4,400.
Meanwhile, on November 10 downtrend; a retraced candle body tested the 38.2% Fibonacci retracement level. The retracement indicates that Ether will fall to level 2.618 Fibonacci extensions or $3,840.64.

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