Home / Ethereum / Ethereum [ETH/USD] Technical analysis: an imminent temporary race, but bears still reign supreme

Ethereum [ETH/USD] Technical analysis: an imminent temporary race, but bears still reign supreme



Once the second largest cryptocurrency in the world, Ethereum [ETH], now he slipped to third position and remained without a fight to get back up.

At the time of writing, the price of Ethereum was $ 104.79, with a market capitalization of $ 10.85 billion. The 24-hour change shows a sharp decline of 8.59% and the trading volume is seen at $ 2.14 billion.

1 hour

Source: trading view

Ethereum recently hit the double-digit price range, but it rebounded early. The downward trend for the chart of an hour varies from $ 175 to $ 104, with no uptrend visible on the horizon. Support at $ 100.93 remains stable with prices bouncing twice on it. The resistance to $ 124, $ 148 and $ 177 has nothing to fear as the bear market is bringing down prices.

The Parabolic SAR the markers are generating under the price candles, indicating a bullish move for Ethereum.

The MACD the indicator also shows a bullish crossover with the histogram ticking the green bars above the zero line.

The Awesome Oscillator shows the transition to green bars, which indicates that the short-term period is lower than the long-term one.

1 day

Source: trading view

The uptrend for the one-day chart is not visible due to bears dragging prices to the ground. The downward trend extends from $ 812 to $ 114. Support for $ 182 has been exceeded and no support exists at the moment. The points of resistance for Ethereum are seen at $ 247, $ 317 and $ 478.

The Parabolic SAR the indicators show a bearish bearish trend as bear markers are putting pressure on price candles to lower themselves.

The Stochastic the indicator shows more crossovers while lowered down.

The Chaikin cash flow the indicator is showing a sell-off as the money coming out of the market far exceeds that of the money that enters the market.

Conclusion

Ethereum appears bullish in a short-term chart of an hour as indicated by SAR and MACD, but the AO indicator is showing that the short-term period is less than the long-term period. Unlike the chart of an hour, the one-day chart shows a massive downtrend and sell-offs.


Subscribe to the AMBCrypto newsletter



Follow us on Telegram | chirping | Facebook





Akash is your usual Mechie with an unusual interest in encryption and day trading, ergo, a full-time AMBCrypto journalist. He holds XRP because of peer pressure, but otherwise he found a day of trading with what little capital he owns.



Source link