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Ethereum [ETH], the second largest cryptocurrency by market capitalization, is ready for its scheduled update for next week. The coin was glowing green in the market due to the next rigid fork. However, the hold of the money on the bull market seems to be fading because it is currently seen wounded by the previous attack of the bear.
According to CoinMarketCap, at the time of the press, Ethereum was trading at $ 151.29 with a market capitalization of $ 15.77 billion. The currency has a trade volume of $ 2.41 billion and has shrunk by more than 1% over the last seven days.
1 hour
Chart of the price of an hour of Ethereum | Source: trading view
In the chart at one hour, the currency shows two downward trends, from $ 159.40 to $ 157.67 and from $ 157.64 to $ 150.73. The cryptocurrency shows a strong uptrend from $ 145.08 to $ 147.44. It also shows another increase from $ 147.44 to $ 149.49.
The immediate resistance of the cryptocurrency is set at $ 152 and the strong resistance is at $ 157.70. The immediate support terrain for the currency can be found at $ 147.42, while the strong support is set at $ 145.03.
Chaikin cash flow he is pointing to a bear market while money is pictured coming out of the market.
Bollinger bands, on the other hand, is pointing to a less volatile market while the gangs are contracting.
Parabolic SAR he is foretelling the realm of the bear when the points are aligned above the candlesticks.
1 day
Chart of daily prices of Ethereum | Source: trading view
The one-day Ethereum chart shows a strong downtrend from $ 404.99 to $ 155.91. The chart shows bullish trends, from $ 83.74 to $ 114.53 and over $ 130.66. The coin continues to rise to find its place of rest for $ 150.62.
The immediate obstacle of the currency is set at $ 156.02 and the strength is $ 219.06. Immediate support for cryptocurrency is $ 114.44 and strong support is $ 82.81.
Klinger Oscillator it is showing a downward trend when the reading line is positioned below the signal line after a crossover.
MACD it is currently bullish, however, the moving average line and the signal line are at the limit of another crossover.
RSI is indicating that the buying pressure and the selling pressure for the currency are leveled on the market.
Conclusion
The spell of the bull seems to vanish as most of the indicators foresee the return of the bear. The indicators that favor the cold season include the Parabolic SAR and the Chaikin Money Flow from the one-day chart and the Klinger Oscillator from the chart of an hour.
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