Ethereum [ETH/USD] Technical analysis: The bear market is looking to lower

Ethereum [ETH], the third largest cryptocurrency, has returned to the game. The coin has supported with an increase of 6.57% over the past 24 hours, managing to hit the bear.

According to CoinMarketCap, at the time of the press, cryptocurrency was trading at $ 122.33 with a market capitalization of $ 12.66 billion. The coin had a trading volume of $ 2.48 billion and was up more than 1% in the last hour.

1 hour

Ethereum hour price table | Source: Negotiation View

In the one – hour chart, cryptocurrency has a downtrend of $ 136.31 to $ 123.26. The graph also shows an upward trend of $ 103.19 to $ 116.03. Cryptocurrency has an immediate resistance at $ 123.27 and a strong resistance at $ 130.52. His immediate support level is $ 116 and his support is $ 100.87.

Chaikin flow is currently bullish for the coin because the line is above the zero line, indicating that money is flowing into the market.

the SAR parabolic, on the other hand, is bearish for the piece because the dots are aligned with the candlesticks.

Bollinger Groups are seen contracting, predicting a less volatile market for the coin

One day

Ethereum Day Price Table | Source: Negotiation View

In the one-day chart, the coin represents a downtrend of $ 714 to $ 206.20. It also recorded another strong downward trend from $ 182.92 to $ 110.16. The coin has an immediate resistance at $ 123.68 and a strong resistance at $ 296.55. This also shows that the piece has a support level of $ 106.63.

MACD shows a bearish wave when the moving average line crosses below the signal line.

Klinger Oscillator is on a different page than the MACD because the reading line has created a bullish cross.

RSI shows that the buying pressure and the selling pressure of the coin are currently equalized, although it seems that the bear has a good grip.

Conclusion

The bull and the bear seem to be engaged in an intense fight, the bull enjoying the support of Klinger Oscillator's one-day chart and the FMC's one-hour chart. The bear is supported by the MACD of the one – day chart and the satellite parabolic SAR of one hour.

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Priya is a full time member of the AMBCrypto reporting team. She is a major in finance and has one year of writing experience. It has not held any value in Bitcoin or other currencies.