Ethereum [ETH] Technical analysis: ETH rides the sleigh with Santa and the bull

The season has been cheerful for many of the major cryptocurrencies in the market. Many coins have recorded a massive growth and this has influenced the ranking of the top 10 major cryptocurrencies. Ethereum [ETH] rose 16.7% in the last seven days, maintaining its third position in the top-10 cryptocurrency list.

At the time of printing, the currency was valued at $ 150.78, with a market capitalization of $ 15.6 billion, according to CoinMarketCap. The cryptocurrency recorded a 24-hour trading volume of $ 3.9 billion, an increase of 0.43% in one hour.

1 hour

Source: trading view

According to the chart of an hour, the currency recorded an uptrend from $ 95.77 to $ 150.02. The currency did not register a significant downward trend. The currency recorded immediate resistance at $ 150.02, with strong support at $ 129.53.

Awesome Oscillator provides a bullish market that is gaining momentum.

Relative strength index it reflects that the buying pressure is significantly higher than the selling pressure.

Chaikin cash flow it is above the zero zone, indicating a bull market. This also means that the money flowing in the market is much higher than the outflow.

1 day

Source: trading view

According to the one-day chart, the currency showed a downward trend from $ 432.36 to $ 218.66, which continued further from $ 208.77 to $ 129.61. The currency has not recorded a significant uptrend. However, immediate resistance was recorded at $ 149.64, while strong support was formed at $ 82.92.

Bollinger bands appear to be at a divergent point, indicating an increase in market volatility. However, the moving average line is under the candles, marking a bearish market.

Parabolic SAR indicates a bullish market as the markers are under the candles.

MACD the line is above the signal line indicating a bullish market.

Conclusion

According to the Chaikin Money Flow indicators [CMF], The MACD market, Awesome Oscillator and Parabolic SAR is expected to be bullish, while the Bollinger bands point to a bear market.