Ethereum Holds above $1,800 Support but Is in Danger of Falling

Ethereum ETH) Current Statistics
The current price: $1,827.59
Market Capitalization: $219,434,844,033
Trading Volume: $4,488,022,043
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis August 15, 2023
Ethereum (ETH) price is below the moving average lines but is in danger of falling. The 21-day SMA has limited the coin’s further upward rise. If buyers fail to keep the price above the moving average lines, Ether will fall. At the time of writing, Ether is trading at $1,840.

The largest altcoin is in danger of falling because it is below the moving average lines. Ether is currently trading between $1,800 and $1,900 per coin. If the range-bound levels are breached, the cryptocurrency will fall. However, the price movement has remained motionless due to the presence of Doji candlesticks.

ETH Technical Indicators Reading
The Relative Strength Index is at level 45, with Ether holding above the current support level of $1,800. Ether is gradually dropping as the price bars fall below the moving average lines. The altcoin is in a negative trend below the daily Stochastic threshold of 40.

Doji are small body indecisive candlesticks that are responsible for the delayed price movement.

Conclusion
Ethereum will keep moving in a range but is in danger of falling. The lower price range of $1,800 has been tested numerous times. After each retest, the altcoin will draw back, leaving a long tail. The presence of such long tails implies that the existing support is under heavy purchasing pressure.

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