Ethereum Price Slips Below Key Support Levels Amid Range-Bound Trading

Ethereum's price has declined but remains within its range after failing to break above $1,960.

The cryptocurrency has fallen below support at the 50-day SMA and resistance at the 21-day SMA. Ether is currently trading between these moving average lines and is expected to stay range-bound for a few more days.

On the downside, if sellers push the price below the 50-day SMA, Ether is likely to slip beneath the $1,500 support level. Conversely, it will resume its bullish trend if buyers drive the price above the 21-day SMA, with Ether then likely to retest its previous high of $1,960.

Ether is currently hovering just above support at $1,800 but remains confined between the moving average lines.