ETH PRICE CMP-$1,285 ETH trading in a narrow range. What happens next?

Following days of fall, Ethereum (ETH), the second-most valued

cryptocurrency behind Bitcoin (BTC), managed to breach the $1,300 level early Saturday.

Ethereum (ETH) Price is one of the cryptocurrencies that has seen reduced volatility in recent days. On October 13, ETH fell below the $1,220 support level, but the bears were unable to maintain the price down. The bulls aggressively purchased the drop, making a hammer candlestick pattern.

Buyers maintained their bullish momentum on Oct. 14 and are attempting to push the price above the overhead zone between the 20-day EMA ($1,331) and the triangle's resistance line. But the bears dominated the bulls, and the price fell below $1,300 once again, trying to pull the pair below $1,190.

Despite the fact that the US dollar index (DXY) has once again above 113, Ethereum continues to trade below  $1,300. Given the low probability of further rise, the price of ETH is more likely to trend down or sideways.

In terms of the US dollar, Ethereum has gone below the $1,300 support level. ETH is showing bearish signs, with further drops nearing $1,250 or perhaps $1,200 possible. Ethereum has failed to break over the $1,340 barrier level.

ETH is yet to breach beyond its 20-day moving average ($1,300). This means that the bears will sell on rallies and try to force the market down to the strong support level of $1,250-$1,220. Because of a failure to respond higher and a narrow range consolidation since early morning, today's Ethereum price analysis is bearish.  As a result, the ETH/USD pair trade below $1300 and approach the $1,250 support level. 

According to Price Analysis, the market capitalization of this ETH is expected to be $157,894,902,191. The coin's 24-hour trading volume is roughly $10,371,304,319. The market capitalization of Ethereum has fallen by 3.21%. However, trading volume decreased by 42.85% during intraday trading.

The $1,300 level serves as an immediate upward barrier as well as the 200 hourly simple moving average. The first significant resistance level is at $1,340. A decisive break over the $1,340 resistance mark might pave the way for more gains. The price may advance towards the $1,400 resistance in the aforementioned situation. Any additional gains might send the price beyond the $1,500 mark.

If ethereum fails to break over the $1,300 barrier level, it may begin a downward trend. On the downside, an initial support level is at $1,270. The next significant support is at $1,260. A breach below $1,260 might trigger a new fall to $1,220. Any more losses might open the door for a move towards the $1,18eth 0 support.

KEY LEVELS :

RESISTANCE LEVEL : $1,310-$1,350

SUPPORT LEVEL : $1,260-$1,220

After a two-day roller coaster, ETH fell below $1300. Because the price is trading in a small range. Will Ethereum break through or exceed the $1300 mark? Please leave your feedback in the comments area.