Home / Coin Payment / Ethereum [ETH/USD] Technical analysis: Coin continues to dwell in the realm of bears

Ethereum [ETH/USD] Technical analysis: Coin continues to dwell in the realm of bears

The entire cryptocurrency market has remained in the realm of bears recently, with most of the coins in the suffocating picture in its hostile environment. In particular, even the most important currencies are struggling to keep up with the current situation.

According to CoinMarketCap, at the time of the press, Ethereum was trading at $ 122.40, with a market capitalization of $ 12.78 billion. The trade volume for cryptocurrency is registered at around 2.67 billion dollars, and the currency has fallen by more than 14% over the last seven days.

1 hour

Graph of an hour of Ethereum | Source: trading view

Graph of an hour of Ethereum | Source: trading view

In the chart at one hour, the currency shows a sharp downtrend from $ 149.95 to $ 129.38. There is another downward trend, from $ 129.38 to $ 124.91 and further up to $ 121.99. The uptrend for the currency is outlined from $ 114.35 to $ 117.95 and $ 117.95 to $ 119.81. The immediate resistance to cryptocurrency is $ 124.92 and the strong resistance is $ 129.40. The currency found its immediate support at $ 117.93 and the strong support is $ 114.29.

Parabolic SAR It is showing the coin in the grip of the bear as the points are lined up above the candles.

Chaikin cash flow has the stuffy currency because of the bear while the money started flowing out of the market.

Bollinger bands they are expecting a less volatile market for money as the bands are depicted next to each other.

1 day

Chart of a day of Ethereum | Source: trading view

Chart of a day of Ethereum | Source: trading view

The one-day chart shows a strong downtrend from $ 499.01 to $ 155.91. The uptrend for the currency is set at $ 83.74 to $ 115.61. The immediate resistance for the currency is $ 128.46 and the strong resistance is $ 219.33. Immediate support is $ 114.43 for the currency and strong support is $ 82.79.

Klinger Oscillator it is predicting a longer bear market as the reading line is positioned below the signal line after a crossover.

MACD it is also predicting a bearish wave as the moving average line has found shelter beneath the signal line, right after a crossover.

RSI is showing that the buying pressure and selling pressure for the currency are currently leveled on the market.

Conclusion

The coin is engulfed in the realm of the bear with very few vanishing points. In addition, the bear is seen dominating the market with Klinger Oscillator, and MACD from the one-day chart and Parabolic SAR, and Chaikin Money Flow as its consultants.


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Priya

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.

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