Ethereum (ETH) Price Analysis and Prediction for April 13

Ethereum (ETH) prices have increased by 0.52% recently, with a 10% rise over the past week. The current price is $1,605, approaching local support at $1,597. Breakthroughs above resistance at $1,689 are necessary for upward movement, while sideways trading is anticipated between $1,500 and $1,700.

As of April 13, Ethereum (ETH) has experienced a 0.52% increase compared to the previous day, resulting in a weekly price rise of 10%. Currently, the ETH/USD exchange rate is $1,605. The hourly chart indicates that Ethereum is nearing key local support at $1,597, with a potential for a breakout leading to a decline towards $1,550 if it closes near this level.

In broader trading patterns, the market is currently balanced, with neither bulls nor bears taking a definitive lead. For an upward trend to be considered, Ethereum must break through the nearest resistance level at $1,689 and close above it.

From a mid-term perspective, Ethereum recently bounced off the support level at $1,368, although a swift recovery seems improbable due to insufficient momentum. Therefore, a period of sideways trading in the range of $1,500 to $1,700 appears more likely in the short term.