Home / Ethereum / Ethereum [ETH/USD] Technical analysis: speculations flash in green in the hope of an uptrend

Ethereum [ETH/USD] Technical analysis: speculations flash in green in the hope of an uptrend



A large number of coins through the cryptocurrency has started playing side play again. Ethereum [ETH] It is one of the coins that master the art.

At the time of publication, the ETH token had increased by just 0.06%, trading at $ 211.58 with a market capitalization of $ 21.8 billion. The total volume of trade in the last 24 hours was recorded at $ 1.49 billion.

1 hour:

ETHUSD 1 hour candelabras | Source: tradingview

ETHUSD 1 hour candelabras | Source: tradingview

In the space of an hour, the trend lines range from $ 198.38 to $ 207.77 [uptrend] and from $ 219.5 to $ 210.31 [downtrend]. A trend breakout may occur soon as the price concentration has reached a considerable amount.

The Parabolic SAR the points are aligned under the candelabras. Therefore, the indicator is indicative of a bull market.

The MACD is showing a bullish representation for the ETH market. The reading line has made a bullish crossover for the signal and is currently predicting a positive trend in prices.

The Awesome Oscillator it is also flashing green to the cryptocurrency, indicative of an uptrend in the Ethereum market.

1 day:

ETHUSD 1 day candlesticks | Source: tradingview

ETHUSD 1 day candlesticks | Source: tradingview

In this scenario, the downward trend extends from $ 465.49 to $ 218.97 and the upward trend ranges from $ 188.01 to $ 194.21. However, the possibility of a trendy breakout is not visible as there is a lot of room to fluctuate prices.

The Bollinger bands they are running on a narrow path to represent the low volatility in the Ethereum market. The price trend is to show the lateral movement according to the indicator.

The RSI he's taking a walk uphill for a while now. The indicator is still moving to predict a positive trend for the ETH market.

The Chaikin cash flow it also moves above the 0 mark. The indicator is currently moving upward to encourage an uptrend.

Conclusion

In technical analysis, all the above indicators predict an upward trend for the market. Bollinger bands suspect low volatility, easing the severity of Ethereum's bullish nature.


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Priyamvada Singh


Priyamvada is a full-time journalist at AMBCrypto. A graduate in journalism and communication at Manipal University, she believes that blockchain technology is a revolutionary tool for advancing the future. Currently it has no value in cryptocurrencies.



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