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Etreo [ETH/USD] Technical analysis: cryptocurrency gets a lifespan as the bear lurks around the corner

The consecutive bear attack on the cryptocurrency market has left many currencies in their prices, including Bitcoin [BTC] Etreo [ETH] and XRP. Ethereum was knocked down and had fallen below its strong $ 99 support.

1 hour:

The hourly chart shows Ethereum falling consistently with sporadic bullish rises in between. The downtrend lowered the price from $ 106.17 to $ 83.38, while the sudden increase raised the price to $ 96.28. Ethereum has held a resistance at $ 118.73, while support has dropped to $ 82.71.

the Parabolic SAR You have been optimistic for a short period of time, while in the long term the pattern has been bearish. This is shown by the markers that remain above the price candles.

the Bollinger Band It has shown a massive turnaround indicated in the great Bollinger cloud.

the MACD The indicator has been triggered above the MACD histogram with the signal line and the MACD line almost meeting, forming the start of a bearish crossover.

1 day

Ethereum's one-day chart shows a massive slide that saw the cryptocurrency slide from $ 470.52 to $ 94.55. Long-term support recently formed, at $ 88.93.

the Awesome Oscillator shows an increase in market momentum after a break. The recent pickup comes after the sudden bullish rise.

the Relative Strength Index It has crashed below the oversold zone, indicating a massive increase in pressure over buying pressure.

the Chaikin money flow The indicator has remained below the axis. This is a sign that the money that leaves the market is much greater than the money that enters.

Conclusion