Ethereum Is in a Range as It Holds above $1,800

Azeez Mustapha

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Ethereum ETH) Current Statistics
The current price: $1,820.94
Market Capitalization: $218,996,004,404
Trading Volume: $5,512,159,000
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $1,500, $1,000

Ethereum (ETH) Price Analysis May 15, 2023
Ethereum (ETH) price is falling below the moving average lines as it holds above $1,800. The largest altcoin fell to a low of $1.741 before rising back above the level of recent support. Ether’s price has been ranging between $1,700 and $1,880 since May 11. Since March 17, the bulls have protected the existing support level at $1,700. At the moment, the moving average lines or the $1,880 high have been rejecting upward movements. If the price of Ether rises over the moving average lines or the $1.900 resistance level, the bullish trend will restart. Ether will once again reach its prior peak of $2,000. The May 12 candlestick’s lengthy tail indicates strong purchasing at lower prices. If the levels of support and resistance hold, the recent oscillations may persist.

Ethereum Is in a Range as It Holds above $1,800
ETH/USD – Daily Chart

ETH Technical Indicators Reading
On the Relative Strength Index, Ether is at level 43 for period 14. The price bars are below the moving average lines indicating further decline.The daily Stochastic range for the altcoin is above level 80. Since the market is overbought, Ether may experience rejection at its most recent high.

Conclusion
Ether is now trading below the $1,900 resistance level as it holds above $1,800. Since May 11, the price movement has been range-bound. In the smaller time frame, Ether is stuck between the moving average lines. This implies that the altcoin will have to move in a range for a few days.

Ethereum Is in a Range as It Holds above $1,800
ETH/USD – 4 Hour Chart

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.

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