Ethereum Varies in a Small Range as It Challenges the $1,300 High

Updated:

Checkmark

Invest at least $250 in D2T to gain lifetime access to our VIP Signals

Checkmark

Get early access to Dash 2 Trade’s Presale. Buy the D2T token now

Checkmark

Existing community of 70,000+ traders

Checkmark

Unlocks access to the leading crypto trading analysis, signals and trading tools

Checkmark

As featured in CryptoNews.com, FXEmpire.com, FXStreet.com and more

Checkmark

World class development team backed by Quant developers and VC investors


Ethereum ETH) Current Statistics
The current price: $1,259.76
Market Capitalization: $154,012,202,977
Trading Volume: $4,897,911,684
Major supply zones: $3,000, $3,500, $4,000
Major demand zones: $2,500, $1,500, $1,000

Ethereum (ETH) Price Analysis December 4, 2022
Ethereum (ETH) price varies between $1,200 and $1,300 as it challenges the $1,300 high. In a similar vein, the price of the cryptocurrency varies between the moving average lines. Ether dropped to a lower price range and retreated yesterday. Ether is currently moving back up to retest the most recent high. The market is overbought near the present resistance level. On the other hand, if the bears once more breach below the 21-day line SMA, the decline will continue. The altcoin will decline and resurface at the $1,100 support. Given that the altcoin has entered the overbought zone, the upward movement is improbable.

Ethereum Varies in a Small Range as It Challenges the $1,300 High
ETH/USD – Daily Chart

ETH Technical Indicators Reading
On the Relative Strength Index for period 14, Ethereum has decreased to level 49. It suggests that supply and demand are in equilibrium. The price of the cryptocurrency is moving in a range since it is between the moving average lines. Ether is moving upward over the daily Stochastic threshold of 70.

Conclusion
Ethereum is trading between the moving average lines as it challenges the $1,300 high. The price of the cryptocurrency has now climbed to the overbought area of the market. In the overbought area, sellers may show up to drive prices down. If the 21-day line SMA holds, the cryptocurrency is most likely to remain range-bound for a few more days.

Ethereum Varies in a Small Range as It Challenges the $1,300 High
ETH/USD – Daily Chart

You can purchase crypto coins here. Buy LBLOCK


Note: Learn2.Trade is not a financial advisor. Do your research before investing your funds in any financial asset or presented product or event. We are not responsible for your investing 

  • Broker
  • Benefits
  • Min Deposit
  • Score
  • Visit Broker
  • 20% welcome bonus of upto $10,000
  • Minimum deposit $100
  • Verify your account before the bonus is credited
$100 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • 14 Cryptoassets available to invest in
  • FCA & Cysec regulated
$200 Min Deposit
9.8

Highly volatile unregulated investment products. No EU investor protection.

  • Over 100 different financial products
  • Invest from as little as $10
  • Same-day withdrawal is possible
$250 Min Deposit
9.8
  • The Lowest Trading Costs
  • 50% Welcome Bonus
  • Award-winning 24 Hour Support
$200 Min Deposit
9
  • Award-winning Cryptocurrency trading platform
  • $100 minimum deposit,
  • FCA & Cysec regulated
$100 Min Deposit
9.8
  • Fund Moneta Markets account with a minimum of $250
  • Opt in using the form to claim your 50% deposit bonus
$250 Min Deposit
9
Share with other traders!

Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.