Ethereum Slips into Range Bound Move While Holding over $1,800

Ethereum ETH) Current Statistics
The current price: $1,897.99
Market Capitalization: $228,198,962,155
Trading Volume: $7,417,658,601
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis July 21, 2023
The price of Ethereum (ETH) has slipped between the moving average lines while holding over $1,800. The altcoin is trading below the 21-day simple moving average but above the 50-day simple moving average. The prevalence of small-body indecisive candlesticks known as Doji has dominated the price movement.

Ether is most likely to be constrained between the moving average lines. When the moving average lines are broken, Ether will trend. The price change is minimal because Doji candlesticks are present. The biggest altcoin is anticipated to trade in a narrow range between the moving average lines for a few days.

ETH Technical Indicators Reading
Ethereum trades between the 21-day and 50-day simple moving averages. As a result, the altcoin will be range bound between the moving average lines. Ether is at Relative Strength Index level 51. This indicates that the market has achieved the price level at which supply and demand are balanced.

Ether is climbing and is already above the daily Stochastic mark of 40.

Conclusion
Ethereum has continued its journey between the moving average lines in a range bond while holding over $1,800. The presence of Doji candlesticks will prohibit them from moving upward or downward. As Ether consolidates above the $1,800 support or 50-day SMA, price movement is expected to be flat.

If the price of Ether breaks above the moving average lines, it will resume positive momentum.

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