Ethereum Holds above the $1.770 Low but Is Stuck at $1,900

Ethereum ETH) Current Statistics
The current price: $1,850.70
Market Capitalization: $222,877,113,060
Trading Volume: $3,721,410,725
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis May 27, 2023
Ethereum (ETH) price is trading in a tight range below the moving average lines but is stuck at $1,900. The crypto’s price is currently retracing after retesting the resistance at a level of $1,850. The dominance of Doji candlesticks at the moment has slowed down price movement. The modest body of unsure candlesticks reveals traders’ lack of interest in the market’s direction. Ether’s upward movement has been stymied at either the $1,900 barrier or the 21-day SMA. On the downside, since April 21, the bulls have steadfastly held the present support. Additionally, the downward-pointing lengthy candlestick tails signify active purchasing at lower price levels.

ETH Technical Indicators Reading
Ether is currently at level 48 on the Relative Strength Index for period 14 due to the current consolidation. Ether is falling because the price bars are below the moving average lines. The price bars are encountering resistance from the 21-day SMA. Ether is moving in a positive direction above the daily Stochastic threshold 50.


Conclusion
Ethereum is consolidating above the $1.770 mark but is stuck at $1,900. The currency is also traded across a limited range. Trading prices fall between $1,750 and $1,850. The 21-day SMA and the barrier at $1,900 have restrained the upward momentum.

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