Connect with us

Analysis

Ethereum [ETH/USD] Technical Analysis: Bull closes in on the bear

Priya

Published

on

Ethereum [ETH/USD] Technical Analysis: Bull closes in on the bear
Source: Unsplash

Ethereum [ETH], the third biggest cryptocurrency by market cap, is in turmoil on whether to chose the bull or the bear. The coin has been in this state for the past few weeks, with no signs of tranquility.

According to CoinMarketCap, at press time, Ethereum was trading at $108.41 with a market cap of $11.23 billion. The coin has a trading volume of $1.85 billion and has witnessed a downfall of more than 4% 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 has a downtrend from $123.25 to $118.49. It also records further falls, with $110.79 to $108.90 being the latest one. The chart demonstrates an uptrend from $102.01 to $106.05. The coin has an immediate resistance at $110.92 and a strong resistance at $120.86. The immediate support is set at $105.91 ground and the strong support is set at $101.95 level.

Parabolic SAR is depicting a bearish market as the dots have aligned on top of the candlesticks.

Bollinger Bands are showing that the bands have started to move away from each other, predicting a volatile market for the coin.

Chaikin Money Flow is demonstrating the money flowing into the market for the coin as the line is above the zero threshold, showing its support to the bull.

1-day

Ethereum one-day price chart | Source: Trading View

Ethereum one-day price chart | Source: Trading View

In the one-day chart, the coin has a downtrend from $499.01 to $218.66. It also pictures another downtrend from $203.20 to $114.76. The coin has an immediate resistance at $122.23 and a strong resistance at $317.88.

RSI demonstrates that the selling pressure is more than the buying pressure, pushing the coin towards the bear’s side of the market.

MACD is currently bullish on the coin, as the moving average line has made a crossover only to take the upwards direction.

Klinger Oscillator is also on the bull’s side as the reading line and the signal line have made a crossover, with the reading line going uphill.

Conclusion

The bull is currently supported by MACD and Klinger Oscillator from the one day chart and CMF from the one-hour chart. Whereas the bear has gained the support from RSI from the one-day chart and the Parabolic SAR from the one-hour chart.




Follow us on Telegram | Twitter | Facebook



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/USD Technical Analysis: Sideways movement to end as breakout imminent

Priyamvada Singh

Published

on

XRP/USD Technical Analysis: Sideways movement to end as breakout imminent
Source: Pixabay

As the cryptocurrency market switches their allegiance between the bull and the bear, XRP is painted red at the moment. The token is slumped by more than a percent wherein the coin is trading at $0.3 with the market cap of $12.4 billion. The 24-hour trading volume is calculated at $305.8 million.

1-hour

XRP 1-hour candlesticks | Source: tradingview

XRP 1-hour candlesticks | Source: tradingview

In the 1-hour price chart, the downtrend is ranging from $0.315 to $0.311 whereas the uptrend is extending from $0.301 to $0.308. A clear possibility of a trend breakout is visible as the prices are packed tightly, ready to explode in either direction.

The Parabolic SAR is bullish on the cryptocurrency as the dots have assembled themselves below the candles to support the bull.

The Aroon indicator is showing a greater strength in the downtrend, which is a bearish sign for XRP. However, it can be observed that the red trend is losing its power and crashing.

The Awesome Oscillator is slightly bullish on the coin as the bars have turned green at present.

1-day:

XRP 1-day candlesticks | Source: tradingview

XRP 1-day candlesticks | Source: tradingview

In the 1-day timeline, the downtrend is stretching from $0.51 to $0.31 whereas the uptrend has been observed from $0.27 to $0.3. A trend breakout is not visible as of now.

The Klinger Oscillator has made a bullish crossover by the signal line. This indicates that the reading line is traveling in favor of a green trend.

The RSI is extremely bearish on the cryptocurrency as the indicator has crashed to the bottom of the graph. A trend reversal is not expected as well, as the reading has not hit the oversold zone.

Conclusion:

In this technical analysis, it is clear that the indicators are giving a mixed sign, advocating for a sideways trend. However, since a trend breakout is predicted in the shorter timeframe, a bullish win might take over the price chart.


Continue Reading

Analysis

Ethereum [ETH/USD] Technical Analysis: Bull’s presence dims the market

Priya

Published

on

By

Ethereum [ETH/USD] Technical Analysis: Bull's presence dims the market
Source: Unsplash

After a mass massacre, the bear seems to have slowed down its rampage in the market as the cryptocurrencies have not witnessed a massive price movement. The most-affected coins in the market include Bitcoin [BTC], Litecoin [LTC], Monero [XMR], Cardano [ADA], and Ethereum [ETH].

According to CoinMarketCap, at press time, Ethereum is trading at $89.70 with a market cap of $9.3 billion. The cryptocurrency shows a trading volume of $1.53 billion and has plunged by more than 11% 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 demonstrates a downtrend from $102.14 to $96.89. It also shows another fall from $89.99 to $88.45. The coin has an uptrend from $82.85 to $85.90, and a second one from $86.58 to $87.76. The immediate resistance is at $90.40 and the strong resistance at $97.38. The coin has set its immediate support ground at $85.88 and a strong support ground at $82.82.

Parabolic Sar is showing a bearish trend as the dots have aligned on top of the candlesticks

Chaikin Money Flow is demonstrating a bullish trend as the line is above the zero mark.

Bollinger Bands are forecasting a less volatile market for the coins as the bands have started to converge.

1-day

Ethereum one-day price chart | Source: Trading View

Ethereum one-day price chart | Source: Trading View

The one-day chart demonstrates that the coin has a downtrend from $466.01 to $208.77. It records another steep downwards trend from $208.77 to $89.09. The immediate resistance for the coin is at $122.28 and the strong resistance is set at $317.84. The support level is set at $86.87.

RSI is predicting a bearish move as the coin is currently oversold in the market.

MACD indicator has pictured the moving average line make a bullish crossover.

The same seems to the case with Klinger Oscillator as well, as the reading line has made a crossover only to take the upwards direction.

Conclusion

The bearish trend is predicted by the Parabolic SAR from the one-hour chart and the RSI from the one-day chart and the bullish trend is predicted by MACD and Klinger Oscillator from the one-day chart and the CMF from the one-hour chart.


Continue Reading

Trending