Ethereum (ETH) Gets End Of Year Bull Run After Months Of Bearish Pressure

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Yesterday, the cryptocurrency market did not experience any end of year price hike as expected. While they were not necessarily falling, they weren’t rising either. While the market was slowly shading off gains in red throughout the last week of the year, Ethereum (ETH) was down by 6% within a seven day period. During the early hours of trading yesterday, ETH was trading at $136.49 and had a market capitalization that was slightly above $14 billion. The volume over a 24 hour period was $2.5 billion.

Ethereum (ETH) End Of Year Analysis

During the week, Ethereum (ETH) traded on a downtrend falling from $142.28 to $118.35. It even fell as low as $115.94 before it experienced an uptrend to $133.98. There was a significant support at $132.21 and significant resistance at $143.22. The moving average line was above the candlesticks while the Bollinger Bands was at the converging point. This showed that the bears had control over the market.

Ethereum (ETH) Price Today – BTC / USD
NamePrice24H %

The relative strength index showed that the selling and buying pressure were evening out yesterday even if it was close to the oversold region. The awesome oscillator was in green to show that the bulls are starting to gain momentum. Awesome Oscillator, on the other hand, is seeing a spike of green indicating that the bullish market is gaining momentum. The daily trend noted resistance at $139.02 and support at $82.92. The Chaikin Money Flow showed that there was an equal inflow and outflow of money. The marker was above zero to show that there was bullish pressure coming up. The signal line was below the MACD line which also indicated bullish pressure.

Ethereum (ETH) Price Analysis Now

Ethereum (ETH) entered into the new year with bullish indicators in the market from the MACD, Chaikin Money Flow, and Awesome Oscillator. The only bearish indicator was on the Bollinger Bands.
This morning, ETH is trading at $135.02. This shows that it is down by 1.26% against the USD but up by 0.88% against BTC. The trading volume over a 24 hour period is $2,213,292,810 and the market capitalization is $14,059,622,104. Within the next few hours of trading, ETH is expected to surge higher against the USD and BTC.


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