RATE Group | Ethereum [ETH] Technical Analysis: Short-term relief imminent as long-haul still in limb…
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Ethereum [ETH] Technical Analysis: Short-term relief imminent as long-haul still in limb…

15 Dec Ethereum [ETH] Technical Analysis: Short-term relief imminent as long-haul still in limb…

Posted at 05:56h in Ethereum News by

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Ethereum [ETH], the third largest cryptocurrency, has been trying hard to fight the bear in the past few weeks, and it seems to have a little control over it. The cryptocurrency has seen a minimal growth of 0.81% in the past seven days.

According to CoinMarketCap, the coin was valued at $86.56 with a market cap of $8 billion. The coin reported a 24-hour trade volume of $1 billion and had plunged by 3.92% within 24 hours, at the time of press. The coin noted a growth of 0.54% over the past one hour.

1-hour

Source: Trading view

Source: Trading view

According to the 1-hour chart, the coin reported two visible downtrends; one from $96.89 to $89.94 and second, from $89.20 to $85.40. An uptrend was observed from $85.99 to $87.76. The coin faced an immediate resistance at $86.09, while a strong support was provided at $84.22.

Awesome Oscillator indicates a bullish trend gaining momentum.

Chaikin Money Flow, on the other hand, showcases a bearish trend but might take a turn towards a bullish one, as the line…

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