RATE Group | Ethereum [ETH/USD] Technical Analysis: Bull has become the ultimate conqueror of the coi…
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Ethereum [ETH/USD] Technical Analysis: Bull has become the ultimate conqueror of the coi…

20 Dec Ethereum [ETH/USD] Technical Analysis: Bull has become the ultimate conqueror of the coi…

Posted at 21:13h in Ethereum News by

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The whole cryptocurrency market has started to break new resistance points today, with all the top-20 coins painted in green. The top gainers in the amongst the top-10 include Bitcoin Cash, Bitcoin SV, Bitcoin [BTC], and Tron [TRX].

Additionally, even Ethereum has broken through its previous resistance in one strike. According to CoinMarketCap, at press time, Ethereum was trading at $108.43, with a market cap of $11.26 billion. The cryptocurrency recorded a trading volume of $2.52 billion and has seen a surge of more than 20% in the past seven days.

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 records a downtrend from $116.36 to $105.91. It also pictures an uptrend from $85.26 to $99.91. The immediate resistance for the coin is at $110.91 and the strong resistance is at $112.65. The coin has found its immediate support at $98.86 and strong support is set at $81.21.

Chaikin Money Flow is currently showing a bearish trend as the…

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