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Ethereum, the world's second largest cryptocurrency, has once again taken a side-by-side approach, setting the low volatility of all currencies across the board. At the time of writing, ETH was trading at $ 199.32, with a market capitalization of $ 20.5 billion. The 24-hour trading volume was recorded at $ 1.39 billion.
1 hour:
Candelabra of an ETHUSD | time Source: tradingview
In the candelabra of an hour for Ethereum, there is an upward trend going from $ 192.71 to $ 198.12, while the resistance level is set at $ 199.42. As of now, there is no clear evidence of a trend breakout, but the support line is forming an ascending triangle with resistance.
The Parabolic SAR At the moment it is bullish on the cryptocurrency. The points are aligned directly under the candelabras, ensuring a forecast of upward prices for ETH.
The Incredible Oscillat0r a green light is flashing at the Ether price trend. The indicator is currently bullish on the market.
The Chaikin cash flow He's also traveling in the bullish zone right now. It is noted that the reading line is above the 0-mark, indicative of a healthy market for money.
1 day:
ETHUSD 1 day candlesticks | Source: tradingview
The Ether candlesticks, in this case, have a support level of $ 182.98, with a downward trend ranging from $ 466.22 to $ 197.94. The resistance line is creating a descending triangle with the support. However, a trend breakout is not visible in the near future.
The Bollinger bands they shrunk even more than before, dictating a less volatile market for Ethereum.
The Klinger Oscillator it has been woven around the signal line. The last crossover realized by the indicator was bullish. Therefore, the indicator is on a positive path for forecasting ETH prices.
The RSI he also gave a nod to the prediction mentioned above, currently moving upward to strike a healthy speculation for the currency.
Conclusion
In technical analysis, most indicators suggest a bullish run for cryptocurrency. However, Bollinger bands contradict the forecast by speculating less volatility for the Ethereum market.
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