Ethereum [ETH], the second largest cryptocurrency by market cap, was among other coins like XRP and Litecoin that were trying to recover from the bear’s attack.
According to CoinMarketCap, at press time, the cryptocurrency was trading at $139.57 with a market cap of $14.65 billion. The cryptocurrency recorded a trading volume of $3.77 billion and has witnessed a rise of over 1% in the past 24 hours and a drop of over 4% in the past seven days.
The one-hour chart of the cryptocurrency outlines a downtrend from $162.79 to $137.40. The coin’s uptrend is pictured from $131.88 to $134.55. The immediate resistance for the coin is placed at $140.56 and the strong resistance is at $164.22. The support levels can be found at $134.37 and $131.63.
Parabolic SAR shows that the coin is starting to recover and is climbing into the bull market as the dots are aligned below the candlesticks.
Bollinger Bands are predicting a less volatile market as the bands are still close to each other. However, they are making an effort to move away from each other.
Klinger Oscillator also shows a bullish market as the reading line and the signal line had a crossover, with the reading line deciding to go north.
The one-day price chart demonstrates a downtrend for the coin from $247.76 to $157.56. The uptrends are recorded from $83.74 to $103.21 and from $103.22 to $131.88. The immediate resistance for the coin is at $157.70 and the strong resistance is at $218.70. However, the immediate support is at $103.08 and the strong support is at $82.65.
MACD shows a bullish wave for the coin as the moving average line is above the signal line. Nonetheless, the two are at the verge of a crossover, forecasting a trend reversal.
Chaikin Money Flow is in the coin’s favor as money is flowing into the market as the line is above the zero mark.
The RSI indicator shows that the buying and the selling pressures of the cryptocurrency are in equilibrium.
Despite the bear’s brutal attack, the coin continues to strive forward with the support of MACD and Chaikin Money Flow from the one-day chart and the Parabolic SAR and Klinger Oscillator from the one-hour chart.
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