Crypto & Blockchain Daily Brief Sunday, October 13, 2024

The article discusses Ethereum's price prediction for October 12. It highlights that Ethereum has been showing a bullish trend and has moved above the $3,600 resistance level. The price of Ethereum has been steadily increasing in the past few days, with a strong support level forming near $3,550. The article suggests that if Ethereum continues to trade above $3,600, it could reach the $3,700 and $3,800 levels in the short term. The technical indicators for Ethereum are also analyzed in the article. The Relative Strength Index (RSI) is above the 50 level, indicating a positive trend. The Moving Average Convergence Divergence (MACD) is also in the bullish zone. These indicators suggest that Ethereum's price could continue to rise in the coming days. However, the article also mentions some key resistance levels that Ethereum may face in the near future. If Ethereum fails to hold above $3,600, it could retest the $3,550 support level. In this case, the price of Ethereum may drop to $3,500 and even lower. Overall, the article concludes that Ethereum's price is currently on an upward trend, with strong support levels and bullish technical indicators. If Ethereum manages to stay above $3,600, it could reach higher price levels in the short term. However, traders are advised to closely monitor the support and resistance levels to make informed decisions about their Ethereum investments.