Ethereum Fluctuates While Settling over the $1,800 Support

Ethereum ETH) Current Statistics
The current price: $1,848.76
Market Capitalization: $221,990,977,163
Trading Volume: $4B
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis June 8, 2023
Ethereum (ETH) price fluctuates over the $1,800 support after hitting resistance at the $1,920 mark. The largest altcoin is now trading at $1,850.50 as of this writing. Ether’s price is currently ranging between $1,750 and $1,900. Since the price decline on May 11, Ether’s price has been fluctuating. Doji candlesticks indicate that the altcoin has not yet begun to move. The growing upward momentum has been restrained by the barrier at $1,920. Buyers were turned off three times during the most recent peak. On the downside, Ether is settling below the $1,800 support.

ETH Technical Indicators Reading
On the Relative Strength Index, Ether is at level 48 for period 14. It is currently in the negative trend zone following the most recent decline. The price bars are below the moving average lines, which implies a likely downward trend. Bearish momentum is seen for Ether below the daily Stochastic threshold of 50. The bears’ momentum has slowed.

Conclusion
Ethereum is presently stuck in a range between $1,900 and $1,750 while settling over the $1,800 support. When the range-bound levels are broken, the largest altcoin will trend. Ether is currently constrained below the moving average lines. Ether is entrapped between the moving average lines on a shorter time scale. It suggests that the cryptocurrency will move in a range for a few days.

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