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The market has returned to its mild movements with a hint of lateral tendency. Even Ethereum, the second largest cryptocurrency, at the moment shows a slight decline in price.
At the time of the press, ETH fell 0.73%, trading at $ 212.46 with a market capitalization of $ 21.9 billion. The total 24-hour trading volume was $ 1.73 billion.
1 hour:
ETHUSD 1 hour candelabras | Source: tradingview
In this timeline, the upward trend extends from $ 207.36 to $ 210.34, while the downward trend ranges from $ 219.59 to $ 215.2. A trendy breakout option is not visible right now, as prices have a comfortable space to move around.
The Awesome Oscillator it is flashing green on the ETH chart, which represents a healthy outlook on the market forecast.
The Klinger Oscillator made a bullish crossover with the signal line and is currently traveling above it. Thus, the indicator is bullish on the Ehereum market.
The Chaikin cash flow agrees with the two previous indicators. The reading line is approaching the land of the bull, indicating an imminent run at positive prices.
1 day:
ETHUSD 1 day candlesticks | Source: tradingview
In this scenario, the downward trend and the upward trend vary from $ 456.44 to $ 202.42 and $ 183 to $ 188.35 respectively. However, there is still time for a breakout in the price trend that occurs because the price does not seem focused enough.
The Bollinger bands they are not pointing to much volatility in the Ethereum market as the bands are still following a narrow pattern on the chart.
The Parabolic SAR is bullish on the price of Ether. The points are floating under the candlesticks, establishing support for the trend.
The RSI it is also bullish on the ETH market. The reading line shows a constant ascent alongside the bull.
Conclusion
In this technical analysis, it has been observed that most of the indicators are bullish on the price trend of Ethereum. However, the recovery may be slight as Bollinger bands are describing low volatility in the market.
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