Almost all cryptocurrencies joined the red zone on May 13. The price of ETH ranged from $4,014 to $3,561. The price rose above $3,600 after the daily low was set.
The coin is currently valued at $3,680. At $4,000, the closest resistance is found. The Bulls, who appear to be gaining power, will have to fight for the next target, valued at $4,400.
Given that there has been no further downturn, we believe ETH will hold its current position and likely grow in value by the end of the week.
As they put it today, the standard economy is in the red zone. Almost all cryptocurrencies have seen a definite bearish trend. In just 24 hours, Bitcoin has lost more than 10% of its value. Some cryptocurrencies have lost 15% to 20% of their value.
The bearish momentum started late at night when the price of ETH began to fall around 23:00 rapidly. It went from $4,235 per hour to $3,618 per hour. This is a significant drop since the cryptocurrency has not been able to recover as of today.
This is most likely due to the general bearish trend. The good news is that the price has remained unchanged. In the same 24-hour period, the volume of trades increased by 32%, and market domination increased by 8%. (20 percent ).
The amount of $3,600 is a help for the cryptocurrency on the 4-hour map. The coin is currently trading above $3,700, so our outlook for May 14 is positive.
Since late April, ETH has been well backed by a solid bullish momentum. We saw how, after hitting the new ATH on Monday, the cryptocurrency attempted to test the $3,600 support level thanks to him.
The situation with Ethereum was the same on Tuesday. There is a lot of fluctuation. The cryptocurrency’s price fluctuated between $4,200 and $3,600. In contrast to Bitcoin, the situation appears to be more promising. As a result, as we previously stated, ETH tokens could rise by the end of the week.
On the Binance exchange, you can check the current price of Ethereum.