Home / Ethereum / Ethereum [ETH/USD] Technical Analysis: Bears try to muscle down the bull

Ethereum [ETH/USD] Technical Analysis: Bears try to muscle down the bull



The third largest coin on the cryptocurrency market, Ethereum [ETH], appears to be over and under the hill constantly.

According to CoinMarketCap, the coin was trading at $ 108, with a market cap of $ 11 billion. The 24-hour trading volume of the coin was at $ 1 billion and the token had grown by 1.67% in the past 24 hours.

1-hour

Source: Trading View

Source: Trading View

The coin has shown a downtrend from $ 114.73 to $ 109.96. It also shows an uptrend from $ 111.97 to $ 113.70. There was an immediate resistance of $ 110.53. There was a strong support at $ 107.99.

Parabolic SAR is indicating a bearish market as the marker is above the candles.

MACD is, however, pointing to bullish market, but it could be possible crossover, making the coin side by the bear.

RSI, on the other hand, it is showing that the buying and the pressure are evening each other out. However, the line is seen moving towards the oversold zone.

1-day

Source: Trading View

Source: Trading View

As for the one-day chart, a downtrend is seen from $ 178.99 to $ 117.53, which further extends from $ 456.63 to $ 211.40. The coin is showing a resistance at $ 220.84. However, a strong support is provided to the coin at $ 109.

Bollinger band are seen to move away from each other, indicating an increase in volatility, allowing the prices to fluctuate.

Awesome Oscillator bullish market with the bars turning green.

Chaikin Money Flow appears to be under the 0-mark, indicating a bearish market.

Conclusion

According to Parabolic SAR and CMF, the market appears to be


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