Ethereum [ETH/USD] Technical analysis: bear market to continue as bulls ready for conflict

Ethereum [ETH], the third largest cryptocurrency, appears to be in conflict as it is forced to choose between the bull and the bear. The currency, which has played with both sides of the market, is currently showing its preference for bears more than the bull.

According to CoinMarketCap, at the time of the press, Ethereum was trading at $ 113.06, with a market capitalization of $ 11.75 billion. The currency has a trading volume of $ 1.84 billion and has plummeted by 3.24% in the last 24 hours.

1 hour

Chart of the price of an hour of Ethereum | Source: trading view

In the one-hour chart, the coin shows a downtrend from $ 136.31 to $ 118.49. It also demonstrates an uptrend from $ 102.01 to $ 111.73. The coin has immediate resistance at $ 118.62 and a strong resistance point at $ 123.28. It has immediate support for $ 110.26 and strong support for $ 100.88.

Parabolic SAR he is currently showing a downtrend as the points are lined up above the candles.

Chaikin cash flow is showing that money flows out of the market because the line is below the zero point, showing its bear support.

Bollinger bands they are imagining gangs moving away from each other, predicting a volatile market for money.

1 day

Chart of daily prices of Ethereum | Source: trading view

In the one-day chart, the currency shows a downtrend from $ 812 to $ 208.77. It also records a sharp fall from $ 203.20 to $ 116.82. The currency has an immediate resistance level of $ 122.16 and a strong resistance level of $ 247.88. The currency has found a strong support for $ 1o6.67.

Klinger Oscillator he is expecting a bullish wave when the reading line has made a crossover to take the road to the top.

MACD it's also on the same page where the moving average line made a bullish crossover.

RSI is showing that buying pressure and sales pressure are leveling off.

Conclusion

The coin shows its support for the bull with the help of the Klinger Oscillator and MACD from day one. It also shows its bear support with the help of Parabolic SAR and CMF from the chart of an hour.

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Priya is a full-time member of the AMBCrypto reporting team. He is a finance specialist with a one-year writing experience. You had no value in Bitcoin or other currencies.