Market Analysis

Ethereum [ETH] Technical Analysis: Bull takes over as wounded bear heals

from Amb Crypto 5 years ago 0 0 644

The cryptocurrency market has seen constant ups and down in the market and many of them have made major shifts in position. However, the market seems to keep on nudging the coins by a peck and for the third-largest coin on the top-10 cryptocurrency list, Ethereum [ETH], a rough ride has ensued ever since the market started changing. However, the coin did manage to stay in the third position and not slip from its rank like many other major coins.

According to CoinMarketCap, ETH was valued at $140.24, with a market cap of $14.5 billion, at press time. The 24-hour trade volume of the coin was reported to be $3 billion, with a hike of 3.10% over the past 24 hours. The coin registered an overall growth of 8.25% over the past week and is going steady with a 0.43% rise over the hour.

1-hour

Chaikin Money Flow marker is barely above zero and might fall under zero soon. However, the money is flowing outside the market and marks a bearish trend.

Relative Strength Index showcases that the buying and selling pressures are evening each other out, as the marker line recovers from an overbought bearish zone.