Ethereum [ETH], a leading cryptocurrency in the market, continues to struggle to regain its position in the market. The coin Ethereum lost its position to is XRP, which is now seen placed in the second place by market cap.
According to CoinMarketCap, at press time, Ethereum was trading at $107.83 with a market cap of $11.29 billion. The coin has a trading volume of $2.53 billion and the coin has seen a slight rise of over 1% in the past seven days.
In the one-hour chart, the coin demonstrates a downtrend from $113.57 to $109.30 and is seen going further south only to settle at $106.47. The uptrend for the cryptocurrency is recorded from $103.29 to $105.60. The immediate resistance for the coin is at $106.84 and the strong resistance is at $109.72. Whereas, the immediate support is at $105.07 and the strong support is at $103.24.
Parabolic SAR is currently showing a bearish wave for the cryptocurrency as the dots have aligned above the candlesticks.
Chaikin Money Flow is also on similar terms as the indicator is picturing the money flowing out of the market.
Bollinger Bands are forecasting a less volatile market for the cryptocurrency as the bands are seen close to each other, making less space for price movements to take place.
The one-day chart shows that the downtrend for the cryptocurrency is outlined from $317.55 to $115.91 and further down to $109.30. The uptrend is pictured from $83.74 to $104.01 and continues to rise till $105.94. The coin’s immediate resistance is at $128.06 and the strong resistance is at $156.01. The immediate support for the coin is at $103.98 and the strong support is at $82.81.
Klinger Oscillator is showing a bearish market for the coin as the reading line is below the signal line after a crossover.
MACD is also forecasting a bearish weather as the moving average line is below the signal line and the histograms are also seen painted in red.
RSI is showing that the buying pressure and selling pressure for the coin are still evened out in the market.
The coin has made a return trip to the bear’s market. This is evidenced as the support of the majority of the indicators from both the one-hour chart and one-day chart is towards the bear.
Subscribe to AMBCrypto’s Newsletter
Mt. Gox: Exchange’s key challenge was getting fiat, says Stellar’s Jed McCaleb
Cryptocurrency Adoption: Institutional investors should consider cryptocurrencies, says pension and endowment adviser Cambridge Associates
Ethereum [ETH] breaches $5.56 billion mark in daily trading volume; highest recorded in over a year
Binance CEO reveals BitTorrent [BTT] airdrop error; reassures users that ‘funds are SAFU’
Ethereum [ETH/USD] Price Analysis: Bull continues to grace the market with its presence
DigiByte community gears up for Global Summit while founder Jared Tate finalises book on decentralized internet
Bitcoin [BTC] developer Jimmy Song lists 3 reasons why Bitcoin SV [BSV] is a “scam”
Bitcoin [BTC] among cryptocurrencies enabled by new debit card launched by Australian Crypto exchange
After Bitcoin [BTC] ETF silver lining, SEC puts forth circular on ICOs
Ethereum [ETH] could have been stolen through malware impersonating MetaMask
Bitcoin [BTC]: Mt Gox redemption plan demonstrates the power of open source network, says Brock Pierce
Bitcoin Cash [BCH] Price Analysis: Bulls and bears fight it out as token trades sideways
- Press Release
A New Generation of Crypto-Exchange: ALL IN ONE Crypto-Exchange
Flash Hike: XRP pumps by 10% as most top-10 coins gleam green