The entire cryptocurrency market was rejuvenated by the ongoing battle of the bulls and the bears. A majority of the coins were painted green, with some even surging by double digits.
According to CoinMarketCap, at press time, Ethereum was trading at $143.35 with a market cap of $15.08 billion. The coin had a trading volume of $5.22 billion, and witnessed a significant rise of over 6% over the day, and over 4% over the past seven days.
The one-hour chart displayed an uptrend from $138.94 to $142.52 for the cryptocurrency. The coin’s immediate resistance found its ground at $142.55, and strong resistance was at $164.24. The immediate support for the cryptocurrency was at $129.27, and strong support was placed at $123.98.
Parabolic SAR showed that the bull was ahead of the bear as the dots were aligned below the candlesticks.
Bollinger Bands forecast a volatile market for the cryptocurrency as the bands were diverging from each other.
Chaikin Money Flow pictured the line dip below the zero-mark, and showed the bear entering the coin market.
The one-day chart showed that the downtrends for the cryptocurrency were outlined from $247.76 to $157.56, and from $157.55 to $135.99. The uptrends for the coin were from $83.74 to $103.22, and further from $103.22 to $131.40.
The coin had to breach its immediate resistance at $157.50, in order to get to the strong resistance, set at $218.76. The immediate support for the coin was at $125.18, and strong support was found at $82.82.
Klinger Oscillator showed that the bull had the potential to win over the coin, as the reading line was above the signal line after a crossover.
MACD had the moving average line below the signal line, post a bearish crossover.
RSI forecast balanced buying pressure and selling pressure for the coin in the market.
The charts showed the bull and the bear fighting for the coin. The bull tagged along with the Klinger Oscillator from the one-day chart and Parabolic SAR from the one-hour chart. The bear grouped with MACD from the one-day chart and CMF from the one-hour chart to tackle the bulls.
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