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Ethereum [ETH/USD] Technical analysis: Coin has found a new place of rest

Ethereum [ETH], the third largest cryptocurrency by market capitalization, continues to stand next to the bear. It is not the only cryptocurrency that prefers the bear to the bull. Other coins like Litecoin [LTC], Monero [XMR] and Bitcoin [BTC] they are also depicted with the winter animal.

According to CoinMarketCap, at the time of the press, Ethereum was trading at $ 117.30 with a market capitalization of $ 12.25 billion. The currency has a trade volume of $ 2.29 billion and has plunged by over 8% 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 of an hour, the coin shows a downward trend from $ 129.38 to $ 124.65 and $ 122.85 to $ 116.30. The uptrend is outlined from $ 114.35 to $ 115.03. Resistance levels are set at $ 117.81 and $ 124.93 for the currency. Whereas, support levels can be identified at $ 114.95 and $ 114.30

Chaikin money flowRegardless of the choice of currency, there is a green day because the line is able to score zero, showing that money flows in the market.

Bollinger Bands it is predicting a less volatile market as the bands are seen nearby each other.

Parabolic SAR it follows the decision of the currency and we see a bearish market when the points are aligned above the candlesticks.

1 day

One day chart of Ethereum | Source: trading view

One day chart of Ethereum | Source: trading view

The one-day chart shows a downtrend from $ 499.01 to $ 155.91 and from $ 149.9 to $ 123.20. The upward trend for the currency is $ 117.43 to $ 83.74. The immediate resistance is $ 128.51 and the strong resistance is $ 156. The reasons for the currency support are $ 114.43 and $ 82.82.

RSI is showing that buying pressure is currently offset by sales pressure.

MACD it is expecting a bearish side for the currency since the moving average line is below the signal line after the two met for a short duration.

Klinger Oscillator, is on the same page, because the reading line has positioned itself below the signal line after a crossover.

Conclusion

The coin loves its refugee in the bear market as it indicates a longer stay. The indicators that are in complete agreement with the currency decision are the parabolic SAR from the one-hour chart, MACD and Klinger Oscillator of the one-day chart.


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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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