Ethereum (ETH) Price Analysis for October 13

All of the top 10 coins are in the green zone today, according to CoinStats.

ETH/USD

The price of Ethereum (ETH) has gone up by 3.64% over the last 24 hours.

On the hourly chart, the rate of ETH is looking bearish as it is on its way to the local support of $4,042. If buyers cannot seize the initiative, one can expect a level breakout, followed by an ongoing correction to the $4,000 mark.

A less clear picture can be seen on the longer time frame. The volume is declining, which means neither bulls nor bears are ready for a sharp move.

In this case, sideways trading in the area of $4,000-$4,300 is the most likely scenario for the next few days.

From the midterm point of view, the situation is quite similar. The rate of the main altcoin is far from crucial levels, which means traders are unlikely to witness an increased volatility anytime soon.

Ethereum is trading at $4,111 at press time.

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