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Ethereum's price has been going through a period of decline in the last few weeks, unable to break the $2200 resistance level. The 50-day moving average is currently keeping the market in the $1900 range while $1800 provides support. If the bears break this level, the price could go down to the 200-day moving average of $1600. The relative strength index (RSI)'s movement around the 50% threshold suggests that neither bearish nor bullish forces are dominating the market.
At the 4-hour chart, the Ethereum price is trying to move away from the $1800 - $1900 trading range. The $1900 resistance is being tested again, and if it breaks, the price could jump above $2000. Alternatively, if the bulls fail, the Ethereum will most likely slide to the $1800 support level. The RSI staying over the 50% mark shows the bulls' advantage, making the possibility of a bullish breakout more likely.
Kate Moore
- 2023-05-05
Ethereum's Price - Testing Resistance at $1900
Ethereum's price has been in a period of decline, unable to break the $2200 resistance. Learn more about Ethereum and its current price levels in this analysis.
![CandleFocus Ethereum-Crypto-Blockchain-Bitcoin-PriceAnalysis](https://images.candlefocus.com/Ethereums-Price-Testing-Resistance-at-dollar1900.jpg)