Ethereum Is in a Range-Bound Move as It Challenges the $1,850 High

Ethereum ETH) Current Statistics
The current price: $1,770.50
Market Capitalization: $216,655,156,013
Trading Volume: $6,680,507,299
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $1,500, $1,000

Ethereum (ETH) Price Analysis March 26, 2023
Ethereum (ETH) price has been stabilizing above the current support as it challenges the $1,850 high. The largest altcoin fluctuated last week between $1,700 and $1,850. There have been price wars between buyers and sellers to break through range-bound levels. Nonetheless, the price indicator has shown that the cryptocurrency will keep moving higher. On the upswing of March 14, a retraced candle body tested the 61.8% Fibonacci retracement line. The retracement predicts that ETH will rise to level 1.618 of the Fibonacci extension, or $2,003.21. Based on changes in the market, Ether is rising to surpass the $1,850 barrier line.

ETH Technical Indicators Reading
In the Relative Strength Index, Ether is at level 57 during period 14. The biggest altcoin is in a favorable trend zone and has room to surge far higher. Since the price bars for Ether are higher than the moving average lines, the coin might be on the verge of increasing in value. In a bullish trend, ETH is rising over the daily Stochastic’s Level 40.


Conclusion
Ethereum is moving in both directions as it challenges the $1,850 high. The $1,850 high has slowed the upward movement. If the resistance level of $1,850 is overcome, the upward movement will resume. The uptrend will resume once the resistance is broken above. Similarly, if the current support is broken, selling pressure will pick back up.
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