Ethereum Remains in a Range as Traders Become Uncertain

Ethereum (ETH) Current Statistics

The current price: $2,621.21
Market Capitalization: $316,746,483,556.76
Trading Volume: $23,013,793,422.96
Major supply zones: $3,500, $4,000, $4,500
Major demand zones: $2,500, $2,000, $1,500

Ethereum (ETH) Price Analysis February 18, 2025

Ethereum (ETH) has been trading below the 21-day SMA barrier as traders become uncertain. The current volatility stemmed from purchasers’ inability to keep the price above the 21-day SMA. On February 17, the positive momentum was resisted by the 21-day SMA, resulting in a decline. On the downside, if the bear breaks below the present support of $2,500, Ether would fall below the previous low of $2,100.

Ether will, nevertheless, keep bouncing above the present support level of $2,500, where the bears are unable to bring the cryptocurrency down. For the last two weeks, Ether has been trading in a restricted range. The altcoin’s current value is $2,626.

ETH Technical Indicators Reading

The continuing decrease is indicated by the 50-day and 21-day SMAs, which slope downward. Ether is still trading above $2,500, and the selling pressure has decreased. For the last two weeks, the 4-hour chart’s moving average lines have been horizontal.

Conclusion 

Ethereum is in a sideways move as traders become uncertain. Buyers have made a serious effort to reestablish the positive trend as shown by the Doji candlestick wicks imply. The price movement has remained restricted due to the presence of Doji candlesticks. Traders are undecided about the direction of the market.

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