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Ethereum [ETH] Technical Analysis: Coin struggles to keep up with the bull

The cryptocurrency market has attained new normalcy in terms of price movement and the subsequent growth. Ethereum [ETH] overtook XRP recently to take the second position and has stuck to it since. After registering tremendous growth for the last few days, the coin has registered a fall of 0.15% in the past hour, at the time of press.

According to CoinMarketCap, Ethereum was valued at $159.61, with a market cap of $16.6 billion. The coin registered a 24-hour trade volume of $3.4 billion with a growth of 3.74% over the past 24 hours. The coin registered an overall growth of 16.01% over the past week.

1-hour

Source: Trading View

Source: Trading View

According to the coin’s one hour chart, an uptrend was registered from $143.70 to $155.21, which further extended till $159.44. The coin did not seem to report a significant downtrend. The coin marked resistance at $159.44, while strong support was marked at $153.24 followed by support at $147.02.

Awesome Oscillator marks a bearish market, however, the momentum seems to be less.

MACD line is above the signal line pointing towards a bullish run in the market.

Relative Strength Index indicates that the buying and the selling pressures are evening each other out.

1-day

Source: Trading View

Source: Trading View

As per the one day chart of the coin, a downtrend was noted to start from $408.96 to $155.36. The coin did not register a significant uptrend and had marked a resistance at $155.53. The chart market firm support at $82.92.

Bollinger Bands appear to be converging, increasing the volatility in the market. The moving average line is under the candles, indicating a bearish market.

Parabolic SAR, on the other hand, marks a bullish market as the markers align under the candlesticks.

Chaikin Money Flow indicates a bullish run, as the marker spikes above zero.

Conclusion

The indicators Parabolic SAR, Chaikin Money Flow and MACD predict a bullish market. However, bear’s attack is being forecasted by Bollinger Bands and Awesome Oscillator.

The post Ethereum [ETH] Technical Analysis: Coin struggles to keep up with the bull appeared first on AMBCrypto.



from AMBCrypto http://bit.ly/2GZjuDI

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