Ethereum Struggles above $2,000 as Buyers Recoup Their Loses

Ethereum ETH) Current Statistics
The current price: $2,010.12
Market Capitalization: $240,910,102,285
Trading Volume: $7,976,126,186
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis November 20, 2023
Ethereum (ETH) hovers above the moving average lines as buyers recoup their losses. The biggest altcoins left long candlestick tail traces above the moving average lines. Long candlestick tails above moving average lines indicate significant buying pressure above the moving average lines.

The bulls broke above the $2,000 high on November 19, but purchasers are battling to maintain the positive momentum above it. If buyers are successful, the altcoin will soar and return to former highs of $2,146 and $2,200. ETH/USD, on the other hand, will remain range-bound between the 21-day SMA and the $2,000 high where the bullish scenario is violated.

ETH Technical Indicators Reading
Ether is caught between the 4-hour chart’s moving average lines due to the recent rise. It suggests that the range-bound move could continue. On the daily chart, the buyer’s ability to sustain the price above the 21-day SMA indicates that the cryptocurrency will continue to rise.

Conclusion
The largest altcoin has avoided dropping below the 21-day simple moving average as buyers recoup their losses. Ether, on the other hand, has recovered and resumed its upward movement above the $2,000 psychological price level. If buyers surpass the barrier at $2,134, a rise above $2,200 is predicted.

Meanwhile, Ether is breaking through the $2,000 psychological price mark.

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