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Ethereum (ETH) Price Analysis for September 13

Tue, 09/13/2022 - 15:39
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Denys Serhiichuk
Have the today's drop influenced the bullish bullish mid-term trend of Ethereum (ETH)?
Ethereum (ETH) Price Analysis for September 13
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Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

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Bulls could not withstand the bears' pressure and all top 10 coins have come back to the red zone.

Top coins by CoinMarketCap


Ethereum (ETH) has followed the decline of Bitcoin (BTC), going down by 8%.

ETH/USD chart by TradingView

On the local chart, the rate of Ethereum (ETH) keeps declining after the breakout of the support level at $1.676. Until the price is below that mark, one should not expect further growth. Thus, the selling volume is high which means that there are high chances to see a more profound decrease.

ETH/USD chart by TradingView

Ethereum (ETH) is on the way to the support level on the daily time frame at $1,487. However, if buyers can keep the rate of the main altcoin above $1,500 until the end of the day, traders can expect the local bounce back.

ETH/USD chart by TradingView

From the mid-term point of view, today's sharp drop might cancel the further growth, however, one needs to wait until the candle closes. If nothing changes, there is a possibility to see the test of the $1,424 mark.

Ethereum is trading at $1,594 at press time.

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About the author

With more than 5 years of trading, Denys has a deep knowledge of both technical and fundamental market analysis. Mainly, he has started his blog on TradingView where publishes all relevant information and makes predictions about top coins.
Thus, his experience is backed up by working in top blockchain related companies such as W12, Platinum Listing, ATB Coin, and others, can be contacted at