Ethereum [ETH] Technical Analysis: Ethereum holds on to the Bull while the bear attacks

After having gone up the ladder to the second position, Ethereum [ETH] has become the second largest coin and is seen climbing new growth. Ever since the coin is seen steady growth with a little slip.

At the time of press, the coin was valued at $152.84, with a market cap of $15.9 billion. The coin registered a 24-hour trade volume of $3 billion, with a fall of 3.23% over the past 24 hours. The coin was doing well in the past few days but has slowly started to slip. The overall growth of the coin is $11.55% over the past week. The coin is still falling gradually as it reports a slip of 0.23% over the past hour.

1-hour 

Source: Trading view

Ethereum’s one-hour chart indicates an uptrend from $138.90 to $154.77, which continued till $159.44 after which it dropped. The downtrend was marked from $154.65 to $150.50. The coin was restricted with immediate resistance at $151.76 whereas another resistance was marked at $157.46. Support was provided at $150.32.

Parabolic SAR points towards a bearish market, as the markers have aligned under the candles.

Awesome Oscillator points to a weakening momentum.

Chaikin Money Flow is under zero, pointing towards a bearish ride for the cryptocurrency.

1-day

Source: Trading View

The one-day chart of the coin reports a massive downtrend from $419.16 to $154.21. The coin did not report a significant uptrend. LTC was restricted at $154.21. While the coin was offered support at $82.82.

Bollinger Bands appear to be at a diverged point, indicating increased volatility in the market. The moving average line is under the candlesticks marking a bullish market.

MACD line is over the signal line, after a bullish crossover, indicating a bull’s market. 

Relative Strength Index indicates that the buying and selling pressures are evening each other out.

Conclusion

Parabolic SAR, Awesome Oscillator, and MACD predict a bullish market. However, according to Bollinger Bands and Chaikin Money Flow, bear seems to have laid a trap and might overtake the market.

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