Ethereum favours the bulls but momentum remains insignificant - AMBCrypto
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Ethereum

Ethereum favours the bulls but momentum remains insignificant

Biraajmaan Tamuly

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Source: Pixabay


Ethereum was trading at $174.85 with a total market cap of over $18 billion with a downfall of 1.84% on the 24-hour price chart.

Source: CoinStats

1-hour Price chart

Source: ETH/USD at TradingView

Resistance 1: $184.30

Resistance 2: $177.62

The Bollinger band indicator shows low price volatility as the lines converged in the charts.

The RSI indicator indicated that the Ethereum was neutra in term of selling and buying capacity.

The MACD indicator indicated that bulls have an upper hand in the current market.

1-day price chart

Source: ETH/USD at TradingView

Resistance 1: $316.15

Resistance 2: $224.55

Support 1: $151.83

The Parabolic SAR indicator showed that the marker is above the candles indicating a bearish trend.

The Awesome Oscillator exhibited the occurence of green bars projecting a bullish circle.

The Chaikin Money Flow or CMF indicated that capital flowing in the market was higher than capital flowing out.

Conclusion

The chart analysis of Ethereum suggested that the price has been on an uprise since the recent fall but the momentum lagged behind in terms of taking stride on another major bullish run.

Biraajmaan covers market trends of major cryptocurrencies. As a graduate in engineering, his interests lie in Blockchain technology. With over a year as a journalist, his articles focus on US and UK markets.

Disclaimer: AMBCrypto's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.