Ethereum Reclaims the $1,800 Low as It Aims for the $2,000 Mark

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Ethereum ETH) Current Statistics
The current price: $1,870.61
Market Capitalization: $225,333,029,252
Trading Volume: $8,627,784,803
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $1,500, $1,000

Ethereum (ETH) Price Analysis April 12, 2023
Ethereum’s (ETH) price is retracing above the moving average’s lines as it aims for the $2,000 mark. Buyers were unable to keep the bullish momentum going above the $1,900 resistance on April 11. As a result, the largest altcoin has fallen above the moving average lines. Buyers had previously encountered resistance at this level on April 5. Ether has dipped to a low of $1,864 as of this writing. The current decline has reached bearish exhaustion. The uptrend will recommence once it encounters support above the moving average lines. On the plus side, Ether’s price will surpass the $1,900 resistance level and soar above the $2,000 mark if the current resistance is broken. Ether risks decrease if price breaks below the moving average lines.

ETH Technical Indicators Reading
Ether has a Relative Strength Index of 57 for period 14. Ether is in the bullish trend zone as it oscillates below and above the $1,900 resistance level. The uptrend will last as long as the price bars are higher than the moving average lines. The bearish momentum has slowed as it falls below the daily Stochastic level of 25.

Conclusion
The biggest altcoin has been compelled to move in a range as it aims for the $2,000 mark. Buyers were unable to keep the bullish momentum above the most recent high, which led to the decline. The selling pressure has subsided as buyers begin to appear above the $1,800 support. The present resistance level is probably going to be tested once more.

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