Ethereum Is at Risk of Declining as It Faces Rejection at $1,850

Ethereum ETH) Current Statistics
The current price: $1,816.62
Market Capitalization: $218,745,631,086
Trading Volume: $5,378,951,158
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $1,500, $1,000

Ethereum (ETH) Price Analysis March 31, 2023
Ethereum (ETH) price fluctuates below $1,850 and is at risk of declining. The $1,850 resistance level has prevented the rally from continuing since March 17. The price has been inconsistent, swinging between $1,700 and $1,850. When these levels are broken, the market will trend. Several attempts have been made by buyers to surpass the $1,850 peak. The bulls have also effectively protected the $1,700 support level. Ether will surge to the psychological price level of $2.000 if the upward trend is successful. Once the $1,600 support is breached, Ether will fall.

ETH Technical Indicators Reading
Ether is at level 57 in period 14 of the Relative Strength Index. The largest altcoin is now on an upswing even if it is consolidating below the most recent high. The price bars have maintained above the moving average lines. The trend of the moving average lines is sideways. Ether is moving above the 40-point Stochastic cutoff level each day.

Conclusion
Ethereum price is in a sideways move below the recent high and is at risk of declining. The price fluctuation has been restricted to the $1,700–1,850 price range. The price movement has remained unchanged day after day. Because there aren’t enough customers at higher price points, the alternative currency hasn’t started to move upward. The current resistance level can be broken by a price reversal.

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