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Ethereum [ETH/USD] Technical Analysis: Bull puts up a tough fight against the bear


The bear has lost its complete influence over the coin as the bull has re-entered the market, showing signs of hope. According to CoinMarketCap, at press time, Ethereum was trading at $105.98 with a market cap of $11.1 billion. The coin records a trading volume of 2.4 billion and has seen a rise of over 2% in the past 24 hours.

1-hour

Ethereum one-hour price chart | Source: Trading View

Ethereum one-hour price chart | Source: Trading View

The one-hour chart demonstrates a downtrend for the coin from $109.30 to $106.12 and further down to $104.28. On the contrary, it pictures a small-scale uptrend, which is outlined from $101.30 to $103.66. The immediate resistance for the coin is at $106.14 and the strong resistance is at $106.86. The coin has laid down its strong uphold at $101.29.

Parabolic SAR is forecasting a bullish wave for the coin as the dots are pictured below the candlesticks, acting as its support systems.

Bollinger Bands are currently predicting a volatile market for a coin, showing the intensity of the battle between…



Read Full Story : AMBCrypto

2019-02-07 13:30:47

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