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The consecutive bear attack on the cryptocurrency market left a lot of coins shaking on their price supports, which includes Bitcoin [BTC], Ethereum [ETH] and XRP. Ethereum was knocked off his perch and had fallen under his strong support of $ 99.
1 hour:
The chart at an hour shows Ethereum falling consistently with sporadic bullish raids in the middle. The downward trend lowered the price from $ 106.17 to $ 83.38, while the sudden spike brought the price to $ 96.28. Ethereum held a resistance of $ 118.73 while support was lowered to $ 82.71.
The Parabolic SAR it has been bullish for a short while while in the long run, the model has been bearish. This is indicated by the markers that remain above the price candles.
The Bollinger band showed a huge change in trend that is indicated by the great Bollinger cloud.
The MACD the indicator pushed over the MACD histogram with the signal line and the MACD line almost met, forming the beginning of a bearish crossover.
1 day
The one-day chart of Ethereum shows a large slide that saw the cryptocurrency slip from $ 470.52 to $ 94.55. Long-term support has been recently formed with a value of $ 88.93.
The Awesome Oscillator shows an increase in the market momentum after a pause. The recent pickup arrives after the sudden bullish peak.
The Relative strength index it crashed below the oversold zone, indicating a massive surge in selling pressure.
The Chaikin cash flow indicator held below the axis. This is a sign of the fact that the money coming out of the market is much bigger than the money that goes into it.
Conclusion
Ethereum has received a saving grace with the price left but it seems that the bear has not left its side. The indicators mentioned above all point to a prolonged race without bullish peaks in sight.
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