Ethereum (ETH) continues to trade within a narrow range, demonstrating stable trading volume and moderate price changes.
Current Ethereum Quotes
Currently, Ethereum is trading at about $3,050 per coin with a trading volume of $13 billion. This reflects steady participation from both retail and institutional investors in the market.
Overview of Support and Resistance Levels
Over the past week, ETH's price has fluctuated between approximately $2,980 and $3,150. Sellers stepped in as the price approached the $3,150 mark, creating a short-term ceiling. Support was found near $2,980, a level that has held firm after two tests earlier in the week.
Technical Indicators and Market Conditions
The Relative Strength Index (RSI) sits at 48, indicating neutral momentum. ETH's price is above the 50-day simple moving average (SMA) at $3,000 but below the 200-day SMA at $2,700. Immediate support lies at $3,000, and if that level gives way, the next support is near $2,900. On the upside, resistance lies at $3,150.
Thus, the current conditions in the Ethereum market suggest a balanced situation where neither buyers nor sellers have clear control. Monitoring key support and resistance levels will help determine the future price dynamics.
