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The cryptocurrency market has been bleeding for days and has knocked down many of the major currencies. Ethereum [ETH] which was the second largest coin until January 10th, slipped into third place, leaving the place to XRP to go up again.
At the time of printing, ETH was valued at $ 129.27, with a market capitalization of $ 113.4 billion. The 24-hour trade volume of the currency was $ 3 billion, a decrease of more than 5% over the last day. The currency recorded an overall decline of 15.79% compared to last week. The currency is still falling while it recorded a loss of 0.29% in the last hour.
1 hour
Source: trading view
The one-hour chart of the currency showed a downward trend from $ 148.13 to $ 125.01, while a slight upward trend from $ 125.01 to $ 126.81 was observed. The resistance of the coin was marked at $ 128.61 while the support was noted at $ 125.01.
Bollinger bands they seem to be converging, and the moving average line is above the candle that marks a bearish market.
Awesome Oscillator indicates that the bull is losing momentum.
Chaikin cash flow it also indicates a bullish market as the marker is above zero.
1 day
Source: trading view
The one-day chart of the currency indicates a downtrend from $ 432.26 to $ 157.15, the currency reported a low rise from $ 83.51 to $ 126.41. The currency scored a resistance at $ 157.15, while support was noted at $ 83.51.
Parabolic SAR indicates an uptrend when the markers line up above the candles.
MACD the line is below the signal line, marking a bearish market.
Relative strength index is indicating that the buying and selling pressures are giving each other night.
Conclusion
According to the indicators, Awesome Oscillator, Chaikin Money Flow and Parabolic SAR provide for a bullish market. However, Bollinger Bands and MACD expect bearish to overtake the market.
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