Ethereum Surpasses $1,800 High and It Poises to Resume Its Ascent

Ethereum ETH) Current Statistics
The current price: $1,813.42
Market Capitalization: $218,147,340,610
Trading Volume: $218,147,340,610
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $1,500, $1,000

Ethereum (ETH) Price Analysis May 19, 2023
Ethereum’s (ETH) price has been range-bound as it poises to resume its ascent. The price of Ether is now fluctuating between $1,740 and $1,900 with the hope of a rising trend. The price has barely moved as a result of the presence of Doji candlesticks. Ether’s price is only marginally above the support level. The largest altcoin will restart its upward trend if the price moves past the resistance at $1,900 or the moving average lines. The crypto will eventually reach its $2,000 peak once more. But Ether has already recovered from the last decline. Selling pressure on the downside is not likely to get worse. On the negative side, the extended candlestick’s tail shows active buying at lower price levels. Additionally, when buyers enter the market to drive prices up, the altcoin has entered the oversold area of the market.

ETH Technical Indicators Reading
On the Relative Strength Index, Ether is at level 44 for period 14. In the bearish trend zone, the largest altcoin is still vulnerable to additional decline. However, as Ether gets ready to resume an ascent, the bearish trend zone has diminished. The price bars are in a downward trend as they are below the moving average lines. The daily Stochastic for Ether is above level 50 and moving in a constructive direction. There is currently less of a bullish momentum.


Conclusion
Ether begins consolidating above the present support as it poises to resume its ascent. The 4-hour chart of the cryptocurrency is dominated by a small body of unresolved candlesticks. Ether will rebound if the current support holds.

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