The bulls are ready for an uphill race


Ethereum [ETH] it seems like it's going well even if the bears have taken over the bull market. At the time of the press, Ethereum was trading at $ 209.07, with a market capitalization of $ 21.75 billion and a 24-hour trading volume of $ 1.48 billion.

1 hour

Source: trading view

The graph of an hour for Ethereum is spontaneous, with many peaks and valleys. The uptrend goes from $ 198.11 to $ 207.38, which then stops and continues up to $ 209.51.

The downward trend extends from $ 219.53 to $ 210.85. Immediate support is $ 207.38, which was formed on November 11th. If prices decide to slip under the support, there are two other supports, one for $ 206 and another for $ 198.05.

The Bollinger bands they are facing an expansion, indicating a slight increase in volatility for ETH. Prices are holding above the simple moving average, indicating a bullish move. Prices are rebounded from Bollinger's upper band [over-bought] and have reached the center.

The Aroon the indicator shows that the uptrend has gained adherence since Aroon's line up passed the crossover with the Aroon downline. Alternatively, the Aroon downline hit the bottom, indicating that the downward force has decreased.

The Relative strength index line 45, which is very close to the neutral line, ie 50. The RSI is neither indicating an overbought nor oversold. It is neutral

1 day

Source: trading view

The downtrend in the one-day chart shows its significance as it ranges from $ 536 to $ 218.66, with some intermediate breaks. There does not seem to be an uptrend as prices have resorted to lateral movements. Support has its roots spread strongly as prices rebounded to support at $ 182.79.

There are more long-term resistors set at $ 247.76. The next resistance is set at a higher price with a gap later than $ 317.55. The last resistance was $ 478.79.

The Parabolic SAR is showing a bullish indication as the markers were formed under the candles. The markers, however, approach the candles.

Awesome Oscillator it is showing a short term downside indication when the peaks were reversed and formed above the zero line.

The MACD the indicator also shows a bullish sign, since the MACD line has crossed the signal line. The MACD histogram also shows the same as the green bars formed above the zero line.


In the chart at one hour, the Aroon indicator indicates an uptrend while the Bollinger bands indicate a bullish move. RSI is very neutral in the chart of an hour. The one-day chart is full of positivity because the parabolic SAR and MACD indicate an upward trend in the long-term run for Ethereum.

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Akash is your usual Mechie with an unusual interest in encryption and day trading, ergo, a full-time AMBCrypto journalist. He holds XRP because of peer pressure, but otherwise he found a day of trading with what little capital he owns.

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