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Key Highlights
ETH/USD slumps to $1,190 low but rebounds
Ether has resumed a sideways move between $1,220 and $1,400 price levels
Ethereum (BTC) Current Statistics
The current price: $1,326.31
Market Capitalization: $162,839,944,759
Trading Volume: $19,348,019,262
Key Resistance Zones: $2,500, $3,300, $4,000
Key Support Zones: $2,000, $1,500, $1,000
Ethereum (ETH) Price Analysis October 13, 2021
Ethereum(ETH) is in a downtrend but has plunged to the low of $1,190 on October 13. In the same vein, the bulls bought the dips as the altcoin rallied above the $1,300 support. Since September 22, the largest altcoin has remained stable above the $1,300 support. Ether has been in a range-bound move between $1,220 and $1,400 price levels.
The bears have broken the lower price level as bulls bought the dips. However, buyers are yet to break the resistance at $1,400 to resume an uptrend. Today, buyers are making concerted efforts to keep the price above the 21-day line SMA. A break above the 21-day line SMA will signal the resumption of the uptrend. The range-bound move will continue if Ether fails to break above the moving average lines.
Ethereum Technical Indicators Reading
The altcoin is in the downtrend zone despite its earlier rebound. It has been stable at level 45 of the Relative Strength Index for period 14. Ether is facing rejection at the recent high as it is above the 80% range of the daily Stochastic. The altcoin is in the overbought region which may attract sellers at higher price levels.
Conclusion
Ether has rebounded above $1,190 support as it recovered from the downtrend. The biggest altcoin has risen above $1,300 support as it resumes the range-bound move between $1,220 and $1,400 price levels. The altcoin will trend when the range-bound levels are breached.
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