Ethereum Is in a Narrow Range as Traders Reach Indecision

Ethereum ETH) Current Statistics
The current price: $1,884.43
Market Capitalization: $227,992,890,488
Trading Volume: $2,415,827,884
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis July 29, 2023
Ethereum (ETH) price has remained stable between the moving average lines as traders reach indecision. Today, the most important altcoin is decreasing due to a rejection at the high of $1,880. Since July 23, the resistance at $1,880 has halted the upward movement.

Ether is currently trading in a restricted range, which may result in a price rebound or breakdown. Ether is currently caught between the moving average lines. If sellers break below the 50-day simple moving average, Ether will rise beyond its present support level of $1,800.

When the $1,800 support is breached, the downtrend will resume. A price rebound will signal the resumption of an uptrend.

ETH Technical Indicators Reading
At level 48 of the Relative Strength Index period 14, Ether is trading in the bearish trend zone. Ether will keep fluctuating since it is trapped between the moving average lines. The moving average lines are horizontally sloping, indicating a sideways trend.

The bullish momentum has stalled above the daily Stochastic threshold of 25.

Conclusion
The most valuable altcoin has yet to trend as traders reach indecision. When the moving average lines are broken, the altcoin will resume trending. Ether is also moving modestly due to the presence of Doji candlesticks. The Doji candlesticks show buyers and sellers uncertainty about the market’s direction.

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