Ethereum [ETH/USD] Technical analysis: continues the enigma of the market

The cryptocurrency market is destroyed by the battle between the bull and the bear. Even Ethereum, the second largest cryptocurrency, is not treated well by the market. At the time of writing, the currency was trading at $ 206.9, with a market capitalization of $ 21.35 billion. The market was showing a decline of just 1%, while the 24-hour trading volume was $ 1.5 billion.

1 hour:

ETHUSD 1 hour candelabras | Source: tradingview

In the graph at an hour of ETH, the resistance line extends from $ 219.6 to $ 210.6. More media are available one after the other.

A strong downward trend is visible in the Ether market as the support level set at $ 207.3 has been discontinued and prices have fallen to $ 205. However, support has also been violated, with the most immediate support currently set at $ 203.1.

The Parabolic SAR it is slightly bearish on the currency, predicting a negative market trend. This is visible from the position of the points above the candlesticks.

The Chaikin cash flow floats under the 0-mark next to the bear. The forecast is strengthened by the observation that the reading line is approaching downhill.

The Awesome Oscillator has moved away from conventional prediction is blinking green to Ethereum.

1 day:

ETHUSD 1 day candlesticks | Source: tradingview

In this scenario, ETH candlesticks are witnessing a downtrend from $ 455.6 to $ 209.2 with the support level set at $ 182.7. In addition, the lines are forming a descending triangle that represents a model of fall in the crypto-market.

The Bollinger bands is describing greater volatility in the current price trend of Ether. The bands were shrinking but they returned to an enlarged scheme.

The RSI it is slightly bullish on the cryptocurrency as it is evident that the indicator has taken an upward approach.

The Klinger Oscillator made a bearish crossover from the signal line to trigger a market warning. However, the reading line is taking a horizontal approach to the neutrality of the project in speculation.

Conclusion:

In this technical analysis, there is a mixed response on the price trend of Ethereum. While three of the indicators suggest a downward run for the token, namely, Parabolic SAR, Chaikin Money Flow and Klinger Oscillator, the other two have expressed a bullish prospect on the subject.