Ethereum Rises Above $2,000 But Falls Short Of The Recent High

Ethereum ETH) Current Statistics
The current price: $2,053.48
Market Capitalization: $246,933,099,949
Trading Volume: $9,914,971,925
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis November 27, 2023
The price of Ethereum (ETH) retests the 21-day (SMA) and the $2,000 psychological price barrier but falls short of the recent high . Buyers have been defending the $2,000 support level since November 22.

However, the bulls have failed to break through the $2,131 resistance level since November 9. In anticipation of a bullish trend, Ether is now trading in a limited range between $2,000 and $2,130. On November 24, the bulls retested the $2,131 barrier but were repulsed.

The altcoin recovered after reaching the current support and the 21-day SMA. ETH/USD has been trading in a tight range for the past week due to the barriers between the $2,000 support and resistance level at $2,131.

ETH Technical Indicators Reading
The price bars and the moving average lines are rather close because of the recent change in Ether’s price. When the crypto’s price retested the 21-day SMA, it bounced. However, the price’s upward movement is still hampered by resistance at the recent high.

The moving average lines on the 4-hour chart are sloping horizontally due to the sideways slide below the previous high.

Conclusion
The largest altcoin falls short of the recent high, although the moving average lines are sloping upward toward it. Nonetheless, Ether will fall if the bears break below the 21-day SMA and the negative momentum continues.

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