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Ethereum [ETH] To Take It Slow After Its Recent ATH



All the assets including Ethereum, Bitcoin and an array of cryptocurrencies were seen slumping, surprisingly, XRP was the only asset riding the bull. XRP had finally pushed past a major line of resistance and was noted at $0.31 with a 11.69% rise in the last 24-hours. Bitcoin, however, took a hit today and dropped by over 8% in the last 24-hours. The king coin was priced at $33K during the time of writing. Dogecoin [DOGE] had soared and even broke the internet. However, the asset was getting of its throne as it endured a daily dip of 19%.

During press time, Ethereum [ETH] was trading for $1,338.73 with a 2.20% drop in the last 24-hours. ETH did not give up on its position as the second largest coin. Its market cap was at $153.7 billion. Despite its downfall, ETH managed to secure gains of over 8% throughout the week.

Ethereum [ETH] One-Hour Price Chart

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The bulls were still in the ETH market. The daily moving average indicator formed a bullish crossover and the asset seemed to have prolonged this crossover. The 50 daily moving average [Blue] was seen above the 100 daily moving average [Red]. This revealed that the bulls were still reigning the market.

However, the other indicators revealed a different notion.


Ethereum [ETH] Price Chart With Key Indicators

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While the daily moving average indicator was revealing a bullish sentiment, indicators like Chaikin Money Flow was suggesting another story. The Bollinger Bands indicator was quite close to each other which suggested that ETH wouldn’t experience major fluctuations. The Relative Strength Index indicator revealed that there was no significant activity in the ETH market. However, the emotion was towards the sellers’ sentiment. The Chaikin Money Flow was clear about its notion. The CMF marker was down below zero which suggested that bears were dancing in the ETH market.

If this trend persists, ETH could have a tough time surpassing its recent all-time high.

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