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The cryptocurrency market seems to be hurt, as it continues to bleed. The third largest cryptocurrency in the list of CoinMarketCap, Ethereum [ETH] it slipped a little bit on December 25 but is seen growing since then. The currency recorded a 4.58% growth over the last day.
According to CoinMarketCap, the currency was valued at $ 134.53 with a market capitalization of $ 13.9 billion. The currency reported a 24-hour trading volume of $ 3 billion, an increase of 30.70% compared to last week. The currency recorded a gradual increase of 0.30% in the last hour.
1 hour
Source: trading view
According to the 1 hour chart, the graph rose from $ 104.88 to $ 156.07, however, the currency reported a downtrend following the massive uptrend from $ 156 to $ 135.14. The currency suffered immediate resistance at $ 156.04, while strong support was offered at $ 123.09.
Awesome Oscillator indicates an uptrend that is gaining momentum.
Chaikin cash flow it also predicts a bullish market because the marker line is above zero. However, the increase is not too high and could see a fall and return below zero.
Relative strength index stresses that buying and selling pressures give each other night.
1 day
Source: trading view
According to the one-day chart, ETH recorded a downtrend from $ 432.36 to $ 218.66. The currency fell further to $ 140.26 and did not record a significant uptrend. ETH met immediate resistance at $ 208.77 and support at $ 83.
Parabolic SAR is forecasting a bull market, as the markers line up under the candles.
Bollinger bands seems to be divergent, thus increasing market volatility. The chart indicates a bearish market as the moving average line is under the candlesticks.
MACD, on the other hand, provides for a bullish market, with the MACD line above the signal line.
Conclusion
The Awesome Oscillator, Chaikin Money Flow, Parabolic SAR and MACD indicators predict a bullish trend, however, Bollinger Bands points towards a bearish trend.
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