Ethereum Is in a Range as It Faces Rejection at the $1,300 High

Ethereum ETH) Current Statistics
The current price: $1,273.15
Market Capitalization: $155,709,942,514
Trading Volume: $6,538,808,799
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $1,500, $1,000

Ethereum (ETH) Price Analysis November 30, 2022
Ethereum’s (ETH) price is falling as it faces rejection at the $1,300 high. As Ether drops, the upward corrective has come to an end. Ether’s price has been fluctuating just slightly, between $1,071 and $1,350. As it moves downward toward the 21-day line SMA, it is currently contained between the moving average lines. On the downside, Ether will retest the present support at $1,100 if it drops below the 21-day line SMA. Nevertheless, if Ether finds support above the 21-day line SMA, the range-bound move will resume.

ETH Technical Indicators Reading
Ethereum has been stable at level 41 on the Relative Strength Index for period 14. It is susceptible to a decline and is still in a bearish trend zone. Sellers will prevail over purchasers as long as the price bars are below the moving average lines. The 21-day and 50-day SMA moving average lines are a sign of the collapse.

Conclusion
Ethereum fluctuates in between the moving average lines as it faces rejection at the $1,300 high. With resistance at its $1,300 high, the biggest altcoin is most likely to decline. The market has also reached the overbought region. As more sellers enter the market, prices will decrease.

You can purchase crypto coins here. Buy LBLOCK


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing