Ethereum Is Stuck in a Range as It Faces a Slide to a $3,000 Low

Ethereum (ETH) Current Statistics
The current price: $3,448.72
Market Capitalization: $414,524,725,545
Trading Volume: $10,214,441,895
Major supply zones: $3,500, $4,000, $4,500
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis July 2, 2024
Ethereum trades below the moving average lines as it faces a slide to a $3,000 low Following the price drop on June 24, the bulls bought dips and held above the $3,300 support. On June 27 and July 1, buyers attempted to keep the price above the moving average lines but were unsuccessful.

On the upside, Ether will rise to $3,730 if buyers successfully cross the moving average lines. Today, Ether is retracing due to the rejection of the moving average lines. The lengthy candlestick wick on July 1 suggests significant selling pressure near the morning average lines.

According to the price prediction, ETH/USD will fall to the lows of $3,200 and $3,000 if rejected at the moving average lines.

ETH Technical Indicators Reading
Ether is fluctuating below the moving average lines. The upward move is being hindered by the resistance at the 21-day SMA. In addition, on the daily chart, the moving average lines have a bearish crossover where the 21-day SMA crosses below the 50-day SMA. This indicates a possible decline of the cryptocurrency.

Conclusion
 Ether has continued to fluctuate below the moving average lines as it faces a slide to a $3,000 low. The price movement has remained stationary due to the existence of Doji candlesticks. Today, the crypto’s price is rising to retest the moving average lines.

The upward move has been hampered by the moving average lines or the resistance at $3,556. In the meantime, the crypto signal is negative since the altcoin is stuck at the moving average lines.

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