The market has returned to its mild movements with a hint of a sideways trend. Ethereum, the second-largest cryptocurrency, is also showing a slight downturn in its price at the moment.
At press time, ETH was down by 0.73%, trading at $212.46 with a market cap of 21.9 billion. The total 24-hour trading volume was recorded at $1.73 billion.
In this timeline, the uptrend extends from $207.36 to $210.34 while the downtrend ranges from $219.59 to $215.2. A possibility of trend breakout is not visible as of now, as the prices have comfortable space to move.
The Awesome Oscillator is flashing green on the ETH chart, depicting a healthy outlook on the market prediction.
The Klinger Oscillator made a bullish crossover with the signal line and is currently traveling above it. Hence, the indicator is bullish on the Ehereum market.
The Chaikin Money Flow agrees with the two above indicators. The reading line is approaching the bull’s land, pointing at an imminent positive price run.
In this scenario, the downtrend and the uptrend are ranging from $456.44 to $202.42 and $183 to $188.35 respectively. However, there is still time for a breakout in the price trend to occur as the price does not appear concentrated enough.
The Bollinger bands are not indicating much volatility in the Ethereum market as the bands are still running a narrow pattern on the chart.
The Parabolic SAR is bullish on the Ether price. The dots are floating below the candlesticks, establishing support for the trend.
The RSI is also bullish on the ETH market. The reading line is showing a consistent climb to side with the bull.
In this technical analysis, it has been observed that the majority of the indicators are bullish on the Ethereum price trend. However, the upturn could be mild as the Bollinger bands are depicting low volatility in the market.
Subscribe to AMBCrypto’s Newsletter
XRP market is manipulated and manipulators fix the support, says prominent trader
Bitcoin [BTC/USD] Price Analysis: Bears take over coin as bulls lose momentum
Bitcoin [BTC] fraud main suspect Alexander Vinnik files request for extradition to Russia
EOS, Tron, and Ethereum are the top-three public chains, says CCID Research Institute
XRP receives another boost as Canadian cryptocurrency exchange Bitbuy adds coin to its roster
Flash hike: Qtum skyrockets by over 36% in 1-hour after Apple Pay & Samsung Pay announcement
Craig Wright’s Twitter account suspended after threatening harassment and libel lawsuits
Qtum partnership with Zeus enables users to trade cryptocurrency on Apple Pay, Samsung Pay
Bitcoin Cash [BCH] developers introduce privacy-protecting lightweight protocol, Neutrino
Bitcoin Cash [BCH] Price Analysis: Bears return as market correction precipitates decline
Bitcoin [BTC]: Dubai gets its first ATM; users can acquire BTC using any fiat currency
CFTC Commissioner: Regulated cryptocurrency market could attract institutional investors
Bitmain’s overproduction of ASIC miners led to lower mining profits, claims miner
Binance is going country-hunting in search of their ‘regulatory paradise,’ says report