The year began with the whole market of cryptocurrency painted red. Despite the strong presence of the bear, there were some coins that behaved better than others. This includes Ethereum [ETH], the second largest cryptocurrency, since the currency has already begun to show signs of recovery.
According to CoinMarketCap, at the time of the press, Ethereum was trading at $ 153.61 with a market capitalization of $ 16.01 billion. The trading volume of $ 2.29 billion has seen an increase of over 13% over the last seven days.
In the chart at one hour, the currency has a downward trend from $ 159.11 to $ 157.67. Imagine another fall from $ 157.64 to $ 151.06. The uptrend for cryptocurrency ranges from $ 132.34 to $ 147.44. Immediate resistance to the currency can be found at $ 153.13 and strong resistance is placed at $ 159.46. Whereas, immediate support is at $ 147.41 and strong support is at $ 132.31.
Chaikin cash flow it is expecting a bear market when the money started to flow out of the market.
Bollinger bands is expecting a volatile cryptocurrency market as the bands have begun to expand.
Parabolic SARon the contrary, it is showing a bullish wave when the points have begun to align below the candlesticks.
In the one-day chart, cryptocurrency shows a downtrend from $ 466.01 to $ 155.91. The upward trend for the currency is recorded from $ 83.51 to $ 114.63 and from $ 114.53 to $ 150.62. The immediate resistance for the currency is $ 155.97 and the strong resistance is $ 218.94. The chart shows that immediate support has found its ground at $ 114.33 and strong support is at $ 82.75.
Klinger Oscillator he tagged next to the bear as a reading line and the signal line met a crossover, with the reading line going south.
MACD continues to show a bullish market as the moving average line has maintained its position above the signal line after a crossover.
RSI is showing that the buying pressure and the selling pressure for the currency have been standardized in the market.
The bull and the bear probably would soon engage in a fight. The bull is currently supported by the MACD from the one-day chart and the Parabolic SAR graph of an hour. The bear found Klinger Oscillator's loyalty from the one-day chart and CMF from the one-day chart.
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