EthereumGains Value as It Holds Above the $3,000 Support

Ethereum (ETH) Current Statistics
The current price: $3,308.86
Market Capitalization: $395,796,504,362
Trading Volume: $32,231,963,212
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis March 20, 2024
Ethereum’s (ETH) price falls below the moving average lines but holds above the $3,000 support. Ether’s price is moving between the moving average lines. The largest altcoin is trading above the 50-day SMA but below the 21-day SMA. On the upside, if buyers sustain the price above the 21-day SMA, Ether will rise and test its previous high of $4,082.

The altcoin will keep moving within a range if bulls are unable to break above the 21-day SMA. Today, ETH/USD is gaining in value, with a current price of $3,356. On the downside, bulls are defending the 50-day SMA as the altcoin regains its bullish momentum.

ETH Technical Indicators Reading
The cryptocurrency’s price remains caught between the moving average lines. Ether will trend if the 21-day and 50-day SMAs are violated. For the past five days, ether has traded in a narrow range between the moving average lines. On the 4-hour chart, price bars are correcting upward while remaining below the moving average lines.

Conclusion
Ethereum is presently trading in a range as it holds above the $3,000 support. Ether prices range between $3,100 and $3,600. The bulls are defending the current support level of $3,000. The crypto signal will be negative if Ether loses its current support.

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