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Analysis

Ethereum [ETH/USD] Price Analysis: Cryptocurrency market indicates a bullish future for the coin

Priya

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Ethereum [ETH/USD] Price Analysis: Cryptocurrency market indicates a bullish future for the coin
Source: Unsplash

The bull continues to support the market as all the coins are seen performing relatively well. Even the top coins in the market are glowing green because of the bull’s presence. According to CoinMarketCap, at press time, ETH was trading at $123.24 with a market cap of $12.92 billion. The coin has a trading volume of $3.23 billion and has surged by over 18% in the past seven days.

1-hour

Ethereum one-hour price chart | Source: Trading View

Ethereum one-hour price chart | Source: Trading View

In the one-hour chart, the coin’s downtrend is outlined from $123.93 to $123.18. The uptrends for the coin are from $103.27 to $118.50 and from $119.71 to $121.64. The coin’s resistance points can be seen at $123.20 and $123.94. The immediate support for the cryptocurrency is at $119.69, including a strong support at $102.57.

Parabolic SAR is indicating a greener market as the dots are pictured pushing the coin up north by aligning below the candlesticks.

RSI is showing that buying and selling pressures for the coin have evened out in the market.

Bollinger Bands is forecasting a volatile market for the cryptocurrency as the bands are pictured parting ways.

1-day

Ethereum one-day price chart | Source: Trading View

Ethereum one-day price chart | Source: Trading View

The one-day chart demonstrates the downtrends from $247.76 to $218.66 and from $155.91 to $123.93. The uptrends are outlined from $83.74 to $103.22 and further up till $199.57. The resistance levels are set at $128.52 and $156.05 whereas, the immediate support point can be found at $117.91 and at $103.11.

MACD shows that the moving average line placed above the signal line after a crossover, indicating a bullish future for the coin.

Chaikin Money Flow is also supporting the coin in its cause as money is still flowing into the market.

Klinger Oscillator is also on the same page as the reading and the signal line had a crossover, with reading line deciding to go up north.



Conclusion:

The coin seems to have moved to the brighter side of the market after being attacked several times in the past. This is evident with the support of MACD, Chaikin Money Flow, and Klinger Oscillator from the one-day chart and Parabolic SAR from the one-hour chart.





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

Analysis

XRP vs Stellar Lumens [XLM] Price Analysis: Bulls suppress bears to push market forward

Yash Rajan

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XRP vs Stellar Lumens [XLM] Price Analysis: Bulls suppress bears to move forward
Source: Pixabay

XRP, the third largest cryptocurrency, was priced at $0.383 agfter falling 1.87% over the 24 hours, according to CoinMarketCap. XRP held a market cap of $16.121 billion and registered $1.29 billion in 24-hour trading volume for XRP.

At press time, Stellar Lumens [XLM] was priced at $0.125, after falling 1.56% over the past 24 hours. It stood ninth on the top 10 list with a market cap of $19.302 billion and $844.41 million in 24-hour trading volume.

1-Day XRP

XRP saw an uptrend from $0.331 to $0.461 and a downtrend from $0.461 to $0.388. Resistances were at $0.458 and $0.420. Support lines were located at $0.371 and $0.285.

Source: TradingView

Source: TradingView

Parabolic SAR presented a bearish trend as the markers were above the candles.

Moving Average Convergence/Divergence [MACD] indicator was undergoing a bearish crossover.

Relative Strength Index showed a relatively overbought status for the coin.

1-Day XLM

On the one-day XLM chart, the resistance line stood at $0.143 and the support lines stood at $0.115 and $0.091. It saw an uptrend from $0.133 to $0.141. XLM also saw a downtrend from $0.142 to $0.125.

Source: TradingView

Source: TradingView

Bollinger Bands displayed an increase in volatility in the market as the bands were diverging.

Awesome Oscillator presented a bullish buying opportunity.

Chaikin Money Flow indicator was above the zero-line, indicating that money was flowing into the market.



Conclusion

XRP saw a fusion of bullish and bearish trends while XLM sides with the bulls after being stalled by bears for the past one month.





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