RATE Group | Ethereum [ETH/USD] Technical Analysis: Bulls to be an occasional visitor in bear’s kingd…
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Ethereum [ETH/USD] Technical Analysis: Bulls to be an occasional visitor in bear’s kingd…

22 Nov Ethereum [ETH/USD] Technical Analysis: Bulls to be an occasional visitor in bear’s kingd…

Posted at 03:33h in Ethereum News by

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As Ethereum [ETH] becomes increasingly incapable of regaining its lost glory by surpassing XRP’s market cap, the coin’s price has been seeing a consistent dip as well. At press time, ETH was down by a massive 7.9%, trading at a low price of $133 with a market cap of $13.8 billion. The 24-hour trading volume was recorded at $3.2 billion.

1-hour

ETHUSD 1-hour candlesticks | Source: tradingview

ETHUSD 1-hour candlesticks | Source: tradingview

In the one-hour scenario, the downward trend line is stretching from $175.9 to $173.9, while a support level is set at $124.4. The downtrend is forming a descending triangle, with the support to project a decline in the ETH price. However, a trend breakout may be a far-off possibility in this case.

The Awesome Oscillator is glowing green to predict an upliftment in the current bearish trend. The bars have sided with the bull and ditched the bear.

The Chaikin Money Flow is also bullish on the prediction of Ether candlesticks. The reading line has crossed the 0-line and is…

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