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Analysis

Ethereum [ETH] Technical Analysis: Third-largest coin has been attacked by the bear

Namrata Shukla

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Ethereum [ETH] Technical Analysis: The third largest coin has been attacked by the bear
Source: Pixabay

The third-largest coin on the CoinMarketCap list, Ethereum [ETH], has been bleeding ever since it lost the second position on the top-10 list. The coin has managed to maintain its position in the third place, but has fallen by 5.91% over the past day.

At the time of press, the coin was valued at $118.46, with a market cap of $12.3 billion. ETH registered 24-hour trade volume of $2.3 billion with an overall fall of 24.27% over the week. The coin has just grown by 0.02% in the past hour.

1-hour

Source: Trading View

Source: Trading View

As per the coin’s one-hour chart, it registered a massive downtrend from $150.91 to $125.66, which extended till $114.34. The coin did not register a significant uptrend. The coin marked resistance at $124.29, with a strong support at $114.34.

Bollinger Bands appear to be at a diverged point, indicating increased volatility in the market. The moving average line is above the candlesticks marking a bearish market.

Awesome Oscillator, on the contrary, marks a bullish market but losing its momentum.

Chaikin Money Flow also indicates a bearish reign with the marker under zero.

1-day

Source: Trading View

Source: Trading View

The one-day chart of ETH marks a downtrend from $404.99 to $157.15. The coin is falling and has not registered an uptrend. The coin met with immediate resistance at $157.15 with support marked at $82.92.

Parabolic SAR indicates a bearish market as the markers have aligned themselves over the candles.

MACD line is seen to be under the signal line, pointing towards a bearish market.

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



Conclusion 

As per the indicators, Chaikin Money Flow, Parabolic SAR, Bollinger Bands, and MACD point towards a bearish market, however, Awesome Oscillator is the only indicator forecasting a bullish trend. The prediction for ETH is a bearish one as most of the indicators point towards a bearish trend.





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Namrata is a full-time journalist and is interested in covering everything under the sun, with a special focus on the crypto market.

Analysis

Ethereum [ETH] and Tron [TRX] Price Analysis: Coins suffer as bears push bulls aside

Yash Rajan

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Ethereum and Tron Price Analysis: ETH bulls show swiftness as TRX bulls tread behind
Source: Pixabay

Ethereum [ETH] was priced at $238.381 and fell by 5.88% over the past 24 hours. With a market cap of $25.312 billion, ETH was ranked 2nd on the list of the world’s top cryptocurrencies. ETH had a 24-hour trade volume of $10.622 billion, at press time.

1-Day ETH 

Source: TradingView

Source: TradingView

ETH saw an uptrend from $157.671 to $262.903, but started slowing down as ETH’s price closed at $235.712. Resistance stood at $266.142 and the support lines stood at $150.453 and $104.64.

Bollinger Bands indicated high price volatility in the ETH market

Awesome Oscillator presented a bullish buying opportunity as the short-term momentum was greater than the long-term momentum

Chaikin Money Flow depicted bullish trend as the money flowing into the market was more than the money flowing out of the market. However, the indicator was starting to fall by press time

1-Day TRX

TRX slipped to 12th on the list of top cryptocurrencies. TRX was priced at $0.026, with a market cap of $1.77 billion, at press time. TRX fell by 6.04% with a 24-hour trading volume of $697.061 million.

Source: TradingView

Source: TradingView

TRX saw its first uptrend  from $0.030 to $0.031, and the second uptrend from $0.028 to $ 0.031. The graph showed a downtrend from $0.030 to $0.028. Resistance line stood at $0.030. and support was at $0.022.

Parabolic SAR suggested a bearish trend as the dotted markers were above the candlesticks

Moving Average Convergence/Divergence [MACD] indicator showed a bullish trend as the MACD line crossed over the signal line

Relative Strength Index indicator revealed that the buying pressure was high



Conclusion

After weeks of upward movement, both Ethereum and Tron were ravaged by the bears. Largely bearish projections were predicted for both coins in the near term. However, some bullish signs remained visible in the market.





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