Ethereum Rebounds but Fluctuates Below the $1,900 High

Ethereum ETH) Current Statistics
The current price: $1,854.30
Market Capitalization: $223,284,155,002
Trading Volume: $7,074,395,762
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $1,500, $1,000

Ethereum (ETH) Price Analysis April 21, 2023
Ethereum (ETH) is losing value but fluctuates below the $1,900 high. The bearish momentum breaking below the 21-day SMA has ended an earlier uptrend. Selling pressure resumed after the 21-day SMA was breached. The bearish momentum will eventually approach the previous low of $1,800 or the low above the 50-day SMA. If the 50-day SMA holds, Ether will be compelled to move range-bound between the moving average lines. On the other hand, the downward trend will carry on to the $1,700 bottom if the 50-day SMA is broken. Price may resume moving upward if it crosses the 21-day SMA. The value of the altcoin will rise to its previous top of $2,000 once more.

ETH Technical Indicators Reading
Ether has a Relative Strength Index of 50 for period 14. Since Ether has hit its equilibrium price level, the bearish trend zone may be reached. It suggests that supply and demand are in equilibrium. Ether’s price bars are situated between the moving average lines due to the recent decrease. The altcoin is probably going to start moving range-bound between the moving average lines again. The largest altcoin is already below level 20 of the daily Stochastic in the oversold area.


Conclusion
Ethereum is in decline and has made a significant stride downward but fluctuates below the $1,900 high. The value of the coin varies between the moving average lines. Between the moving average lines, Ether is entrapped. When the moving average lines are crossed, the largest alternative coin will trend.

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