Home / Ethereum / Ethereum [ETH] Technical analysis: Cryptocurrency rides the bull amid the threat of the bear

Ethereum [ETH] Technical analysis: Cryptocurrency rides the bull amid the threat of the bear



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

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

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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Namrata Shukla

Namrata is a full-time journalist and is interested in covering everything under the sun, with special attention to the encrypted market.


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