Ethereum [ETH], the third-largest cryptocurrency by market cap, continues to stay beside the bear. It is not the only cryptocurrency that is preferring the bear over the bull. Other coins such as Litecoin [LTC], Monero [XMR] and Bitcoin [BTC] are also pictured hanging out with the winter animal.
According to CoinMarketCap, at press time, Ethereum was trading at $117.30 with a market cap of $12.25 billion. The currency has a trading volume of $2.29 billion and has plunged by over 8% in the past seven days.
In the one-hour chart, the coin demonstrates a downtrend from $129.38 to $124.65 and $122.85 to $116.30. The uptrend is outlined from $114.35 to $115.03. The resistance levels are set at $117.81 and $124.93 for the coin. Whereas, the support levels can be spotted at $114.95 and $114.30
Chaikin Money Flow, irrespective of the coin’s choice, is forecasting a green day as the line is able the zero-mark, showing that the money is flowing into the market.
Bollinger Bands is forecasting a less volatile market as the bands are seen close to each other.
Parabolic SAR is abiding by the coin’s decision and is seen forecasting a bearish market as the dots have aligned above the candlesticks.
The one-day chart shows a downtrend from $499.01 to $155.91 and from $149.9 to $123.20. The uptrend for the coin is pictured from $117.43 to $83.74. The immediate resistance is laid out at $128.51 and the strong resistance is at $156. The support grounds for the currency is at $114.43 and $82.82.
RSI is showing that the buying pressure is currently evened out with the selling pressure.
MACD is forecasting a bearish side for the coin as the moving average line is below the signal line after the two met for a short duration.
Klinger Oscillator, is on the same page, as the reading line has placed itself below the signal line after a crossover.
The coin likes its refugee in the bear’s market as it is indicating a longer stay. The indicators that are in complete agreement with the coin’s decision are Parabolic SAR from the one-hour chart, MACD and Klinger Oscillator from the one-day chart.
Subscribe to AMBCrypto’s Newsletter