RATE Group | Ethereum [ETH/USD] Technical Analysis: Bear to stomp coin to death?
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Ethereum [ETH/USD] Technical Analysis: Bear to stomp coin to death?

24 Nov Ethereum [ETH/USD] Technical Analysis: Bear to stomp coin to death?

Posted at 12:29h in Ethereum News by

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Ethereum [ETH], the third biggest cryptocurrency by market cap that sacrificed its second position to XRP has plunged to its May 2017 price. The coin took a free fall with all the other cryptocurrencies such as Bitcoin [BTC], XRP, Litecoin [LTC] and Monero [XMR], earlier today.

According to CoinMarketCap, at press time, Ethereum is trading at $124.87 with a market cap of $12.9 billion. The coin has a trading volume of $2.03 billion and has plummeted by 6.51%.

1 hour:

Ethereum one-hour price chart | Source: Trading View

Ethereum one-hour price chart | Source: Trading View

In the one-hour chart, the cryptocurrency pictures a downtrend from $175.90 to $128.22. It further slipped down to $123.13. The coin has a short uptrend from $118.56 to $121.48. It has an immediate resistance at $136.40 and a strong resistance at $136.40. The third-biggest cryptocurrency has a strong support at $118.50.

Parabolic SAR pictures the dots aligned below the candlesticks, indicating a bull market.

The Chaikin Money Flow line is below the…

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