Press "Enter" to skip to content

Price Analysis of ETH: Stagnation prevails among the markets

Latest News

The second-largest cryptocurrency, ETH was moving sideways for the past 48 hours without any surge or drop. The price was stuck between a support and a resistance, and it didn’t look like it will break out any time soon.

The price of ETH at the press time was $185.85 and the market cap was at $20.15 billion. The 24-hour trading volume was $10.80 billion.  A major amount of trading volume for ETH was coming from VinDAX exchange. It contributed a total of $391 million in trading volume, via the ETH/USDT trade pair.

1 Hour Chart

1 hour price analysis of ETH
Source: ETH / USDT TadingView

The one hour chart exhibited an uptrend extending from $153.28 to $179.34 and a downtrend from $192.44 to $185.82. The support was held at $179.13 and the resistance was at $184.89.

The Bollinger Bands were undergoing a squeeze and indicated a reduction in the volatility of the coins.

Chaikin Money Flow: The CMF line seemed to be below the zero line indicating that the coin was in the bearish market.

The MACD indicator showed that the MACD line was slightly over the signal line suggesting that the coin was experiencing a bullish sentiment.

1 Day Chart

1 day price analysis of ETH
Source: ETH / USD TradingView

The one day chart exhibited a downtrend extending from $361.54 to $197.16 and an uptrend from $147.06 $190.45. The resistance stood at $225.48 and the support was held at $159.30.

Parabolic SAR: Ths dotted line below the candlesticks seemed to be tracing an upward path indicating that the coin was experiencing a bullish sentiment.

The Awesome Oscillator showed no strong momentum but the last bar indicated that the coin was in the bearish market.

Relative Strength Index: The line seemed to be closing in towards the 50-line indicating a neutral pressure between the buyers and sellers.

Conclusion

Since there is no clarity between the short term and long term charts and coin seemed to be less volatile, it makes the coin indeterminable to conclude if it is in the bearish or bullish market.

Disclaimer - OBN is an informational website which aims to give the latest blockchain related news to the readers. Articles on OBN should not be considered as investment advice. Trading cryptocurrencies is a high-risk investment, every user is advised to consult an expert before making any decisions.