Ethereum price analysis for July 13, 2022, comes on a sluggish note for the 2nd biggest cryptocurrency in the crypto space as we can see that ETH tried to reclaim the $1100 price region but failed to do. The price action remains sluggish but as we can see that there was a price change of only +0.86% in the last 24 hours. The volume is not enough so as to let the token break the $1100 price level and there is a strong resistance beyon $1200 as well which Ether hasn’t been able to breach after a number of attempts.
As noted in our ETH price analysis for July 12, 2022, there is strong possibility that the token might retest the $1K price levle which is an area of vital support for the price action of Ethereum.
The data from CoinMarketCap shows that the trading volume of the coin rose to 12.28% in the last 24 hours, followed by a 0.66% drop in the market cap. Moreover, the Volume / Market Cap has a value of 0.1, while the Market Dominance rose to 14.77%.
The daily candle for Ethereum opened at a price of $1038 and reached a daily high of $1079. On the other hand, the daily low for ETH stands at a price of $1035. The price of 1 ETH at the time of writing is $1079.
Ethereum price analysis for July 13 on the daily chart
Ethereum price analysis for July 13, 2022, will take into account the data from the daily chart below and 3 major indicators in the crypto space.
The RSI indicator reads a value below 40 which means that the Ethereum bears are in control of the price action.
The MACD line is very close to the signal line and a bearish divergence is very likely to occur.
The price action for Ethereum successfully retested the lower zone Bollinger Bands which means that buyers aim for higher prices.
Conclusion
Ethereum price analysis for July 13, 2022, ends on a sluggish note for Ether and a bearish retest to $1000 is possible.
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