Ethereum Overcomes the $1,800 Barrier Level and Shoots for Its Prior Peak

Ethereum ETH) Current Statistics
The current price: $1,885.13
Market Capitalization: $226,437,284,361
Trading Volume: $9B
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis June 22, 2023
The price of Ethereum (ETH) has broken above the barrier level of $1,800 and shoots for its prior peak. The positive momentum is likely to extend to the high of $2,000 psychological price level. At the time of writing; Ether had reached a high of $1,900.30.

Buyers broke through resistance at $1,800 and stormed to a high of $1,933. On the downside, the largest altcoin retraced to $1,880 and then held above the current support.The retracement suggests that the cryptocurrency will continue to rise.

Meanwhile, Ether is trying to break through the $1,900 resistance level.

ETH Technical Indicators Reading
The recent advance has propelled Ether to level 60 of the Relative Strength Index for period 14. The largest altcoin is on a bullish trend and capable of further gains. The price bars are now above the moving average lines, indicating that the price will rise further.

The altcoin has been trading above the daily Stochastic threshold of 80. As Ether resumes its upward trend, the overbought condition has been broken.

Conclusion
Ethereum is now trading in a bullish trend as it shoots for its prior peak. The price indication suggested that the cryptocurrency would continue to rise. A retraced candle body tested the 78.6% Fibonacci retracement line on the June 22 rally.

The retracement predicts that ETH will increase but then reverse at the 1.272 Fibonacci extension level or $1,998.40.

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