Ethereum Rises But Is Unable To Surpass the Resistance at $2,131

Ethereum ETH) Current Statistics
The current price: $2,092.15
Market Capitalization: $250,351,581,027
Trading Volume: $12,147,882,064
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis November 24, 2023
The price of Ethereum (ETH) has been above the psychological $2,000 mark but is unable to surpass the resistance at $2,131. Nonetheless, the upward trend has been thwarted three times by the resistance at $2,131.

Ether, for example, hit a high of $2,132.80 before being repulsed. The altcoin is slightly retracing to the downside. At the time of writing, Ether is trading at $2,074. On the plus side, there is a price hint of a probable increase to the $2,198 high.

On the downside, ETH/USD’s price risks falling below the $2,000 psychological price threshold. Meanwhile, the price of Ether fluctuates between $2,000 and $2,120 price levels.

ETH Technical Indicators Reading
On November 21, the price bars broke below the 21-day SMA; however, since then, they have remained steady above the moving average lines. Since the uptrend was broken on November 9, the moving average lines on the 4-hour chart have been sloping horizontally.

The price bars, however, have held above the moving average lines.

Conclusion
Ether has maintained its bullish trend but is unable to surpass the resistance at $2,131. Over the past 48 hours, the altcoin’s price has fluctuated between $2,000 and $2,120. Ether’s price has been steadily above the $2,000 support level since November 22.

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