Home / Ethereum / Ethereum [ETH] Technical analysis: Second wave of impending bear attack on the bleeding market

Ethereum [ETH] Technical analysis: Second wave of impending bear attack on the bleeding market



The third largest currency in the list of top-10 cryptocurrencies, Ethereum [ETH], has had a hard lap since the market started to change. However, the currency managed to stay in the third position and not slip from its position like many other important coins.

According to CoinMarketCap, ETH was valued at $ 115.90, with a market capitalization of $ 12 billion at the time of printing. The 24-hour trade volume of the currency was $ 2.4 billion, down 7.59% in the last 24 hours. The currency recorded a total growth of 0.44% compared to last week, but slipped 0.27% over one hour.

1 hour

Source: trading view

Source: trading view

The table of an Ethereum hour reports an uptrend from $ 108.12 to $ 144.16, however, the chart indicates a fall in the value of the coin from $ 156.04 to $ 130.51, which extends further up to $ 114.80. The injured market has resisted $ 124.32 and offered strong support for $ 113.31.

Awesome Oscillator indicates a bull market that is gaining momentum.

Chaikin cash flow the marker is below zero, indicating that money flows out of the market and, therefore, a downward trend.

Relative strength index shows that the buying and selling pressures give each other night, while the scorer's line recovers from an overbought bearish environment.

1 day

Source: trading view

Source: trading view

According to the currency hour chart, a downward trend from $ 432.36 to $ 139.09 was observed. The price of the currency is seen to slip tremendously. The currency recorded resistance at $ 139.09 while it reported support at $ 82.92.

Bollinger bands they are pointing to a downward race for the coin as the moving average line is under the candlesticks. The bands seem to be divergent, so an increase in volatility is needed.

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 bear seems to mark its territory. The Awesome Oscillator, Bollinger Bands, Parabolic SAR and MACD line indicators provide for a bearish market.


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