Ethereum [ETH/USD] Technical analysis: Bull became the last conqueror of the currency

The entire cryptocurrency market has begun to break new resistance points today, with all the top 20 coins painted in green. Among the top 10 of the best gainers are Bitcoin Cash, Bitcoin SV, Bitcoin [BTC]and Tron [TRX].

Furthermore, Ethereum also overcame its previous resistance in one shot. According to CoinMarketCap, at the time of the press, Ethereum was trading at $ 108.43, with a market capitalization of $ 11.26 billion. The cryptocurrency recorded a trade volume of $ 2.52 billion and saw an increase of over 20% over the last seven days.

1 hour

Chart of the price of an hour of Ethereum | Source: trading view

In the one-hour chart, the cryptocurrency shows a downward trend from $ 116.36 to $ 105.91. It also shows an uptrend from $ 85.26 to $ 99.91. The immediate resistance for the currency is $ 110.91 and the strong resistance is $ 112.65. The currency found its immediate support at $ 98.86 and strong support is set at $ 81.21.

Chaikin cash flow is currently showing a bearish trend as money is coming out of the market.

Parabolic SAR he jumped on the side of the bull when the points started to form under the candlesticks.

Bollinger bands they are showing that the market will be less volatile for the currency when the bands have started to meet.

1 day

Chart of daily prices of Ethereum | Source: trading view

In the one-day chart, the coin shows a downtrend from $ 466.01 to $ 208.77. Record another steep downtrend from $ 203.20 to $ 101. Immediate resistance was recorded at $ 122.06 and strong resistance was set at $ 218.83. Currency support can be found at the $ 82.76 level.

RSI is showing that the buying pressure and sales pressure for cryptocurrency are currently leveled on the market.

MACD he is showing his unshakable support for the bull as the moving average line has made a crossover just to go up.

Klinger Oscillator he is standing next to the MACD on the market, as the reading line has also made a bullish crossover.

Conclusion

The bull became the last conqueror of the currency. He got the support of Parabolic SAR from the table of an hour and MACD and Klinger Oscillator from the one-day chart on his way up to the throne.

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Priya is a full-time member of the AMBCrypto reporting team. He is a finance specialist with a one-year writing experience. You had no value in Bitcoin or other currencies.