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The cryptocurrency market seems to have come out of its low price, with important coins like Bitcoin [BTC], Ethereum [ETH] and Bitcoin Cash [BCH] all are blessed by the bull.
Ethereum was bombarded by comments from many important officials in the cryptocurrency space, leading to the second cryptocurrency being in the spotlight quite often.
1 hour:
Source: trading view
Ethereum's trend lines indicate a gradual downward trend with prices falling from $ 202.16 to $ 199.34. Cryptocurrency support reached $ 192.66, with resistance maintained at $ 203.16.
The Chaikin cash flow the indicator dropped even lower than the axis, an indication of a prolonged bear run.
The MACD the line and the signal line have been crossed and they began their descent into the realm of the bear. This happens in the wake of the prices of Ethereum riding the bull.
1 day:
Source: trading view
The one-day Ethereum chart shows an acute downtrend, with prices falling from $ 456.55 to $ 195.96. Support for cryptocurrency has reached $ 182.58.
The Relative strength index for Ethereum it has been constantly tending close to the oversold zone in the last two months. This is indicative of the fact that the selling pressure is more than the purchase pressure.
The Bollinger bands it has slowly tapered towards current price stability. The upper band and the lower band have slowly narrowed, an indication of a downward trend.
Conclusion
The indicators show that the running of the bulls is slowly ending, with the bear slowly coming out of its sleep. The bands of MACD, CMF, RSI and Bollinger take all bear positions in the current market.
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