Home / Ethereum / Ethereum [ETH] Technical analysis: Bull takes over when the injured bear heals

Ethereum [ETH] Technical analysis: Bull takes over when the injured bear heals



The chart of an Ethereum hour reports an uptrend from $ 136.82 to $ 143.55, however, the chart also indicates a fall in the value of the coin from $ 156.04 to $ 128.34 after which recorded the uptrend trend above. The currency then dropped from $ 143.22 to $ 239.38. The market marked resistance to the currency at $ 143.22 and offered strong support at $ 132.21.

Awesome Oscillator indicates a bull market that is gaining momentum.

Chaikin cash flow the marker is just above zero and may soon fall below zero. However, money flows out of the market and marks a downward trend.

Relative strength index shows that the buying and selling pressures give each other night, while the marker line picks up from an overbought bearish zone.

1 day

Source: view of trading

Source: view of trading

According to the currency hour chart, a downward trend from $ 432.36 to $ 218.66 was observed, which continues to $ 139.02. A minimal upward trend from $ 83.74 to $ 114.53 was observed. The currency recorded resistance at $ 139.02 while it reported support at $ 114.53.

Bollinger bands they are pointing to a bullish run for the coin as the moving average line is under the candlesticks. The bands appear to be at a divergent point, thus increasing market volatility.

Parabolic SAR it points towards a bear market while the indicators line up above the candles.

MACD the line is above the signal line, it marks a bull market, but it is moving towards a crossover.

Conclusion

At the time of printing, the bull seems to recover its territory. The Awesome Oscillator, Chaikin Money Flow, Bollinger Bands and the MACD line provide for a bullish market. However, the Parabolic SAR indicator indicates a lurking bear.


Source link