Ethereum (ETH) Price Analysis for January 13

Bulls remain more powerful then bears, according to CoinMarketCap.

ETH/USD

The rate of Ethereum (ETH) is rising faster than Bitcoin (BTC), going up by 2.26%.

On the hourly chart, the rate of Ethereum (ETH) has been trading in a narrow range today. At the moment, one should pay attention to the daily closure. If it occurs closer to the resistance than to the support, the breakout of the $1,418 mark may be a repreqsuite for a rise to the $1,430 zone.

On the daily time frame, the price of trading is within yesterday’s candle, which means that the main altcoin needs more time to accumulate power for a further move. In this case, sideways trading in the area of $1,400-$1,430 is the more likely scenario for the next few days.

On the bigger chart, the price is about to close above the nearest support level at $1,352. If that happens, the next level at which buyers might find trouble is the resistance at $1,503 that serves the mirror level.

Ethereum is trading at $1,415 at press time.