RATE Group | Ethereum [ETH/USD] Technical Analysis: Will the bull knock the bear dead?
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Ethereum [ETH/USD] Technical Analysis: Will the bull knock the bear dead?

14 Oct Ethereum [ETH/USD] Technical Analysis: Will the bull knock the bear dead?

Posted at 12:50h in Ethereum News by

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Ethereum [ETH], the second-largest cryptocurrency, is currently moving sideways in the market after the evident collapse of all the coins across the board this week. The cryptocurrency is in the green zone but has not gained much momentum in terms of price performance.

At the time of writing, Ethereum was trading at $199 with a market cap of $20.5 billion. It is currently up by 1.36% with a total trading volume of $1.24 billion in the past 24 hours. The cryptocurrency touched $230 but soon depreciated to $188.71 in a week’s time.

1-hour:

ETH 1-hour trading chart | Source: tradingview

ETH 1-hour trading chart | Source: tradingview

In the 1-hour ETH candlesticks, the support line is observed to be maintaining the price above $188. The downward trend line ranging from $233.62 to $198.23 has been acting as the resistance, leaving much scope for the price to rise.

The Chaikin Money Flow [CMF] indicator remained bearish for a while but turned bullish later, currently advocating a healthy run for the ETH market.

The…

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