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Price Analysis of ETH: Markets are trying to hold on to the bulls

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The price of ETH at the press time was $190.03 and the market cap was at $20.64 billion. The 24-hour trading volume was $10.549 billion.  A major amount of trading volume for ETH was coming from Dcoin exchange. It contributed a total of $388 million in trading volume, via the ETH/USDT trade pair.

1 Hour Chart

Source: ETH / USD TradingView

The one hour chart exhibited an uptrend extending from $179.00 to $182.64 and a downtrend extending from $192.48 to $185.07. The immediate resistance was at $184.64 and the subsequent resistance at $187.83 and the immediate support was at $182.02 and the subsequent support at $180.54.

The Bollinger Bands after a divergence, are now beginning to converge indicating a decrease in the volatility of the coins.

Chaikin Money Flow: The CMF line was swaying over the zero line suggesting that the inflow of the capital was more than the outflow placing the coin in the bullish market.

Awesome Oscillator shows that the coin was going red indicating the presence of the coin in the bearish market.

1 Day Chart

Source: ETH / USD TradingView

The long term chart showed that the candlesticks were in between the support and resistance for some time. The chart exhibited an uptrend extending from $147.14 to $182.57 and a downtrend extending from $361.14 to $195.45. The immediate resistance was at $197.45 and the subsequent resistance was at $225.93 and the support was held at $163.27.

Parabolic SAR: The dotted line seemed to be going upwards indicating that the coin is in the bearish market.

The MACD line was slightly above the signal line proofing that the coin was under a bullish trend.

Relative Strength Index: The RSI line was swaying over the 50-line suggesting that the buyers were quite active placing the coin in the bullish market.

Conclusion

Since most of the indicators suggest that the coin was facing a positive sentiment, it can be confirmed that the coin was placed in the bullish market.

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