Ethereum Hovers above the Breakout Level as It Aims for $2,100

Ethereum ETH) Current Statistics
The current price: $1,941.98
Market Capitalization: $233,416,912,163
Trading Volume: $6B
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis July 4, 2023
Ethereum (ETH) price has risen to a high of $1,968 as it aims for $2,100. Nonetheless, the price indication predicts that Ether will rise past the $2,000 mark. According to the forecast, ETH will increase to the 1.618 Fibonacci Extension level, or $2,123.71.

At the moment, the largest altcoin is attempting to break through the $2,000 resistance zone. If the current resistance is broken, Ethereum will rise to a high of $2,100. Ether, on the other hand, will be forced to trade in a range between $1,920 and $2,000 if it fails to break above the previous high.

Meanwhile, Ether has retraced above the $1,940 support for a further upward move.

ETH Technical Indicators Reading
On the Relative Strength Index for period 14 at level 61, the largest altcoin is in a bullish trend zone. The cryptocurrency is increasing because the price bars are above the moving average lines. Ether was previously overbought, but it is now in a bearish trend.

Sellers have formed in the market’s overbought area. It is below the daily Stochastic level of 80.

Conclusion
Ethereum is trading below the $2,000 barrier level as it aims for $2,100. Buyers have yet to maintain the price above the recent high. The coin has retraced back to the $1,920 breakthrough level. If the price falls below the support of the breakout level of $1,920, selling pressure may continue.

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