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The cryptocurrency market is at the mercy of bears right now, with blood spattered on all the big names across the board. Whether it's Bitcoin [BTC], XRP or Ethereum [ETH], none of the tokens were spared in the ambush.
At the time of writing, Ethereum [ETH] it was showing a decline of 12.76%, trading at a depressed price of $ 180.9, with a market capitalization of $ 18.59 billion. The total trading volume of 24 hours is $ 3 billion.
1 hour:
ETHUSD 1 hour candelabras | Source: tradingview
In the timeline of an ETH candelabra, a steep downward trend has been identified that ranges from $ 198.3 to $ 175.2. Multiple media were interrupted while the currency continued to depreciate, with the start of yesterday's crack cryptomercato.
The first serious violation of support was observed when the currency fell below $ 207.2. The current support fell to $ 172, struggling to withhold ETH prices.
The Parabolic SAR is bullish on the imminent trend in currency prices. The points are lined up under the candelabras to reflect positive prices.
The Awesome Oscillator it is also flashing green on the price trend when the bars become bullish on price.
The Chaikin cash flow has agreed with the above indicators. Currently, the reading line is approaching an upward trend, traveling above the 0-mark.
1 day:
ETHUSD 1 day candlesticks | Source: tradingview
In the one-day price run, Ether is witnessing a downtrend from $ 456.6 to $ 209.9 while the $ 182.8 support level has been breached and is currently set at $ 177. trend is not visible as of now as no concentration has been detected in the ETH market.
The Bollinger bands they are showing strong volatility in price trends. The bands have taken a broad approach by expanding horizons to a high degree.
The RSI hit the oversold zone and is currently preparing for a bullish forecast. This is evident due to the oversell business in the market, which will lead to a reversal of trend.
The Klinger Oscillator he made a bearish crossover from the signal line. The indicator is collapsing mercilessly further to strengthen the rule of the bear.
Conclusion
In technical analysis, it has been predicted that the token will experience strong fluctuations in the next period. Despite the dunk, the price trend was suggested to rise and become bullish soon by most of the indicators.
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