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 money is moving out of the market.

Parabolic SAR has jumped to the bull’s side as the dots have started to form below the candlesticks.

Bollinger Bands are showing that the market is going to be less volatile for the coin as the bands have started to reunite.

1-day

Ethereum one-day price chart | Source: Trading View

Ethereum one-day price chart | Source: Trading View

In the one-day chart, the coin demonstrates a downtrend from $466.01 to $208.77. It records another steep downtrend from $203.20 to $101. The immediate resistance is recorded at $122.06 and the strong resistance is placed at $218.83. The support for the coin can be spotted at $82.76 level.

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RSI is showing that the buying pressure and the selling pressure for the cryptocurrency are currently evened out in the market.

MACD is showing its unwavering support to the bull as the moving average line has made a crossover only to go upwards.

Klinger Oscillator is standing next to MACD in the market as the reading line has also made a bullish crossover.

Conclusion

The bull has become the ultimate conqueror of the coin. It has gained the support of Parabolic SAR from the one-hour chart and MACD and Klinger Oscillator from the one-day chart on its way up to the throne.



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