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Ethereum [ETH/USD] Price Analysis: Price outburst results in trend reversal as bulls take charge


Ethereum [ETH], the third largest cryptocurrency by market cap, gained its momentum after Litecoin [LTC], now the fourth largest cryptocurrency, started a bull rally earlier yesterday. Since then, the coin has successfully managed to retain the bull in the market as it was pictured painted in green.

According to CoinMarketCap, at press time, Ethereum was trading at $119.30 with a market cap of $12.5 billion. The coin has a trading volume of $3.54 billion and has seen a rise of over 9% in the past 24 hours.

1-hour:

Ethereum one-hour price chart | Source: Trading View

Ethereum one-hour price chart | Source: TradingView

In the one-hour chart, the coin has an uptrend from $116.87 to $118.62 and $103.27 to $117.88. The immediate resistance for the coin is at $118.65, while the support systems for the coin can be seen at $116.58 and $101.29.

Parabolic SAR is showing a bearish wave as the dots have started to align on top of the candlesticks.

Bollinger Bands is forecasting a less volatile market as the bands are seen close to each other,…



Read Full Story : AMBCrypto

2019-02-10 04:30:20

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Written by Ambcrypto

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