Ethereum Is in Decline but Pauses above $1,866.30

Ethereum ETH) Current Statistics
The current price: $1,860.00
Market Capitalization: $223,570,029,214
Trading Volume: $4,671,653,865
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis July 10, 2023
Ethereum (ETH) price pauses above $1,866.30 support, although the bears have repeatedly retested the existing barrier. The current level of support is located between the moving average lines. Ether is oscillating to break through the moving average lines.

If the altcoin falls below the 50-day SMA, Ether will begin selling pressure. Ether will plummet to a low of $1,725 on the downside. If the bulls break through the 21-day SMA, it will mark the start of a new upswing.

The market will return to the former highs of $1,950 and $2,000. Meanwhile, Ether is still caught between the moving average lines.

ETH Technical Indicators Reading
Ether has dropped below the Relative Strength Index level of 48 for period 14. The coin is in a bearish trend zone and is likely to fall to its prior low. The price bars are located between the moving average lines, showing that the coin is moving within its range.

The coin is in a bearish trend below the daily Stochastic threshold of 40.

Conclusion
The most important altcoin is currently trading between the moving average line but pauses above $1,866.30. The coin is prone to returning to past highs or lows. However, because Ether is trading in a bearish trend zone, the bears have an advantage over the bulls.

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