Ethereum remains bearish but on the verge of a bullish break
The largest altcoin, Ethereum was trading at $176.67 with a total market cap of over $18 billion at press time. The cryptocurrency had a trade volume of $7.44 billion in the last 24 hours, and did not record a significant rise or fall.
1-Hour price chart
Resistanc 1: $192.68
Resistance 2: $184.32
Resistance 3: $177.65
Support 1: $173.30
The Bollinger band indicator shows high price volatility as indicators were diverging in the chart.
The RSI indicator indicated that the token was close to being over-sold in the current trend.
The MACD indicator remained under the signal line suggesting minor bearish sentiment.
1-Day Chart
Resistance 1: $266.16
Resistance 2: $221.11
Resistance 3: $182.32
Support 1: $131.93
The Parabolic SAR indicator showed that the marker was under the candles, indicating a bullin run for Ethereum.
The Awesome Oscillator remained above the zero lines suggesting short-term momentum rising faster than long-term momentum
The Chaikin Money Flow or CMF indicated that the capital flowing in was higher than capital flowing out
Conclusion
The Ethereum price analysis of 1-hour and 1-day show bearish sentiment was high for the short term chart but exhibited a trend reversal on the long-term period.
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