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Analysis

Ethereum [ETH] Technical Analysis: Bulls support bleeding coin as hungry bear lingers

Namrata Shukla

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Ethereum [ETH] Technical Analysis: Bulls support the bleeding coin while, the hungry bear lingers
Source: Pixabay

The cryptocurrency market has been bleeding since the past few days and it has taken down many major coins with it. Ethereum [ETH] which was the second-largest coin until January 10, slipped to third, making way for XRP to climb up.

At the time of press, ETH was valued at $129.27, with a market cap of $113.4 billion. The 24-hour trading volume of the coin was $3 billion, with a fall of over 5% within the past day. The coin recorded an overall fall of 15.79% over the past week. The coin is still falling as it registered a slip by 0.29% in the past hour.

1-hour

Source: Trading View

Source: Trading View

The coin’s one-hour chart recorded a downtrend from $148.13 to $125.01, while a minimal uptrend was observed from $125.01 to $126.81. The resistance of the coin was marked at $128.61 while the support was noted at $125.01.

Bollinger Bands appear to be converged, and the moving average line is over the candlestick marking a bearish market.

Awesome Oscillator indicates that the bull is losing momentum.

Chaikin Money Flow also indicates a bullish market as the marker is above zero.

1-day

Source: Trading View

Source: Trading View

The one-day chart of the coin indicates a downtrend from $432.26 to $157.15, the coin reported a minimal uptrend from $83.51 to $126.41. The coin marked a resistance at $157.15, while support was noted at $83.51.

Parabolic SAR indicates a bullish trend as the markers aligns above the candles.

MACD line is under the signal line, marking a bearish market.

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



Conclusion 

As per the indicators, Awesome Oscillator, Chaikin Money Flow, and Parabolic SAR forecast a bullish market. However, Bollinger Bands and MACD predict bearish wrath overtaking the market.





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Analysis

XRP vs Stellar Lumens [XLM] Price Analysis: Bears stall coins’ bullish momentum

Yash Rajan

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XRP vs Stellar Lumen [XLM] Price Analysis: XRP and XLM bulls stalwart bears
Source: Pixabay

Ripple’s XRP saw a huge amount of capital being transferred yesterday and was ranked third on CoinMarketCap, with a market cap of $16.258 billion, at press time. According to CoinMarketCap, XRP was priced at $0.386 and had a 24 hour trading volume of $1.664 billion. It surged by 4.07% over 24 hours.

Stellar Lumens [XLM] stood ninth on the top-10 cryptocurrencies with a market cap of $2.438 billion. XLM was priced at $0.126 with a 24 hour trading volume of $474.116 million. XLM rose by 3.96% over the past 24 hours.

1-Day XRP

Resistance lines stood at $0.458 and $0.402 and supports were at $0.311 and $0.285. XRP saw an uptrend over the course of six months from $0.364 to $0.459. XRP also drew a downtrend over the past two weeks from $0.457 to $0.391.

Source: TradingView

Source: TradingView

Parabolic SAR markers were above the candles and indicated a bearish environment for the coin.

Moving Average Convergence/Divergence [MACD] indicator suggested an imminent bearish crossover

Relative Strength Index indicator showed that the buying and selling pressures had evened each other out

1-Day XLM

Stellar Lumens [XLM] saw an uptrend from $0.126 to $0.142. Resistance lines stood at $0.143 and $0.127 and support lines stood at $0.741 and $0.115.

Source: TradingView

Source: TradingView

Bollinger Bands pointed towards increment in volatility.

Awesome Oscillator indicator presented a bullish buying opportunity. However, bearish pressure was seen over the last few histogram bars.

Chaikin Money Flow indicator showed that the money flowing into the market was greater than the money flowing out of the market.



Conclusion

Both XRP and XLM seemed to have stalled in the face of bearish pressure, after posting some bullish gains.





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