Ethereum [ETH/USD] Technical analysis: Cryptocurrency will continue to reside in the realm of the bull

Ethereum, the second largest cryptocurrency on the market, rejoices the realm of the bull along with all the other major circuits. The currency, which was previously traded below $ 200, has rebounded above it.

According to CoinMarketCap, at the time of printing, the currency was trading at $ 209.83 with a market capitalization of over $ 21 billion. The currency had a trading volume of over $ 1 billion and saw a significant increase of over 6% over the last seven days.

1 hour

In the one day chart, the coin will have to show its strong support to the bull to break through the immediate resistance, which is set at $ 213. It will also face strong resistance at the $ 223.67 level. The currency has immediate support for $ 198 and has strong support for $ 188.31.

The Parabolic SAR he showed that he was ready to ride the bull, because the dots were lined up under the candelabras.

Chaikin cash flow it was also joined to the satellite dish SAR, showing an upward trend as money flowed on the market.

Bollinger bands showed that there would be less market volatility, as the bands were contracting at the time of writing.

1 day:

The one-day chart showed that the bull will have to stop at $ 210.31 to face immediate resistance. If the bull exceeds this level, he will be forced to face the strong resistance level, which is set at $ 812.65. If the bull fails, the currency will see strong support at $ 182.79.

The Relative strength index has shown that the pressure of buying and selling money is stabilizing.

The MACD indicator he has shown that he will line up with the bull as the reading line was at the top of the signal line.

The Klinger Oscillator it was also on the same location as the MACD, as the reading line showed that it was winning against the signal line.

Conclusion

The cryptocurrency will continue to reside in the realm of the bull next to the MACD and Klinger Oscillator indicators of the one day chart. The currency also got support for its decision by Parabolic SAR and CMF from the chart of an hour.