Ethereum Is in a Range but Risks Decline from the $1,920 High

Ethereum ETH) Current Statistics
The current price: $1,868.87
Market Capitalization: $224,802,553,672
Trading Volume: $8B
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $1,700, $1,500, $1,000

Ethereum (ETH) Price Analysis June 26, 2023
Ethereum (ETH) price has regularly tested the resistance level but risks decline from the $1,920 high. The largest altcoin is trading between $1,800 and $1,920, failing to surpass the resistance level.Nonetheless, Ether faces a drop because it is trading towards the market’s overbought zone.

Furthermore, the altcoin will trend if the existing support and resistance levels are violated.For example, if the resistance level of $1,920 is breached, Ether would rise to the psychological price level of $2,000.Similarly, Ether will fall if the $1,800 support level is surpassed. The altcoin will decline above the $1,720 barrier.

ETH Technical Indicators Reading
Ether is at level 56 of the Relative Strength Index for period 14. Despite the fluctuations, the largest altcoin remains in the bullish trend zone. The price bars continue above the moving average lines, indicating that the cryptocurrency may advance.

The altcoin is trading above the daily Stochastic level of 25. As it fluctuates above the current support, the bullish impetus has stalled.

Conclusion
ETH/USD is ranging after being rejected at the most recent high but risks decline from the $1,920 high. Ether has fallen between the moving average lines on the 4-hour chart. This implies that Ether will be compelled to fluctuate between the moving average lines for a few days.

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