[ad_1]
Bitcoin [BTC] and other cryptocurrencies in the market saw a sudden rise in price yesterday, registering a massive movement within minutes. Some of the cryptocurrencies recorded a huge increase during the unexpected visit of the bull to the market, including the best coins like Ethereum [ETH] and Monero [XMR]
According to CoinMarketCap, at the time of the press, Ethereum was trading at $ 128.98, with a market capitalization of $ 13.46 billion. The volume of trade in the currency is $ 2.72 billion and the currency still shows an increase of more than 8% in the last 24 hours.
1 hour
Chart of the price of an hour of Ethereum | Source: trading view
In the chart of an hour, the cryptocurrency shows a downward trend from $ 149.95 to $ 129.18. The uptrend for the currency is outlined from $ 114.35 to $ 116.38 and $ 116.86 to $ 128.16. The immediate resistance for the currency is $ 129.49 and the strong resistance is $ 132.91. The immediate support of the cryptocurrency is set at $ 127.74 and the strong support is $ 114.32.
Bollinger bands they are currently showing a highly volatile cryptocurrency market.
Chaikin cash flow it is expecting a bullish wave as the line is above the zero line, demonstrating the fact that money has begun to flow into the money market.
Parabolic SAR It also shows an uptrend as the points are aligned below the candlesticks.
1 day
Chart of daily prices of Ethereum | Source: trading view
The one-day chart shows a downtrend from $ 499.01 to $ 155.91. The uptrend is represented by $ 83.74 to $ 115.61. The immediate resistance for the currency is $ 156.09 and the strong resistance is $ 218.79. However, immediate support can be found at $ 114.43 and strong support is $ 82.81.
Klinger Oscillator is forecasting a bearish trend as the reading line is shown below the signal line after a crossover.
MACD it is also on the same page where the mobile line is positioned well below the signal line after a crossover, with a histogram painted in red, which acts as an additional factor for prediction.
RSI is showing that the buying pressure and sales pressure for cryptocurrency are currently leveled on the market.
Conclusion
The market predicts a short-term uptrend wave and a long-term bearish wave. The bull is currently depicted together with Parabolic SAR and CMF from the chart of an hour. The bear, on the other hand, is currently depicted with Klinger Oscillator and MACD from the one-day chart.
Subscribe to the AMBCrypto newsletter
