The bear has lost its complete influence over the coin as the bull has re-entered the market, showing signs of hope. According to CoinMarketCap, at press time, Ethereum was trading at $105.98 with a market cap of $11.1 billion. The coin records a trading volume of 2.4 billion and has seen a rise of over 2% in the past 24 hours.
The one-hour chart demonstrates a downtrend for the coin from $109.30 to $106.12 and further down to $104.28. On the contrary, it pictures a small-scale uptrend, which is outlined from $101.30 to $103.66. The immediate resistance for the coin is at $106.14 and the strong resistance is at $106.86. The coin has laid down its strong uphold at $101.29.
Parabolic SAR is forecasting a bullish wave for the coin as the dots are pictured below the candlesticks, acting as its support systems.
Bollinger Bands are currently predicting a volatile market for a coin, showing the intensity of the battle between the bull and the bear. This is evident with the distance between the bands. However, the state of the market can change as the bands are seen making an effort to get closer to each other.
Chaikin Money Flow is showing that the money has started to flow into the market, in order to witness the bull’s return as the line is pictured above the zero-mark.
In the one-day chart, the downtrend for the coin is outlined from $499.01 to $106.02. The cryptocurrency’s uptrend is seen from $82.82 to $103.36. The coin has its immediate resistance level at $128.57 and its strong resistance level at $156. The support for the coin is placed at $82.79 ground.
MACD is still showing that the bear is going to rule over the market in the long term as the moving average line is seen below the signal line after a crossover. Nonetheless, the line is at the verge of another crossover, showing that the table could turn for the bull.
RSI is forecasting a evened out market for the coin as the buying pressure is equally met with the selling pressure.
Klinger Oscillator is also on the same page as MACD as the reading line placed itself below the signal line after a crossover.
The bull has decided not to give up on the cryptocurrency with a good match with the bear. However, the bear’s chances of winning stand strong. This is mainly because it is supported by MACD and Klinger Oscillator from the one-day chart.