Ethereum Is Stuck at $3,400 as It Continues to Vary

Ethereum (ETH) Current Statistics

The current price: $3,388.20
Market Capitalization: 407,931,434,845.83
Trading Volume: 52,153,966,151.34
Major supply zones: $3,500, $4,000, $4,500
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis November 22, 2024

Ethereum’s (ETH) price regains upward momentum but continues to vary. Today, the largest altcoin is testing the $3,400 resistance zone. The bulls had already retested the barrier level but failed to break above it. Today, if buyers overcome the $3,400 resistance level, Ether will surge to a high of $3,800. However, the altcoin’s upward trend is uncertain as it confronts rejection at the recent high.

The largest altcoin has reached the market’s overbought level. Ether will fall if sellers emerge in the overbought zone. However, if the bulls break past the $3,400 resistance level, the bearish scenario will be invalidated. It suggests that the largest altcoin is seeking to reach the psychological $4,000 barrier. Ether is now worth $3,351.60.

ETH Technical Indicators Reading

The horizontal moving average lines are trending upward, indicating an uptrend. The price movement has been marked by a tiny body uncertain candlestick on the four-hour chart. The price bars are above the moving average lines, with the 21-day SMA rising above the 50-day SMA. This shows that altcoins are on the increase.

Conclusion

Ether continues to vary on the 4-hour chart following its rejection at $3,400.The largest altcoin is trading above $3,000 but below $3,400. The price movement has been stabilizing above the $3,000 support level before rebounding. The price recovery has halted at the current high. The crypto signal is range-bound, since Ether has been repelled at its recent high.

Make money without lifting your fingers: Start using a world-class auto trading solution.

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 results.