Ethereum [ETH/USD] Technical Analysis: Bears try to muscle down the bull

The third-largest coin on the cryptocurrency market, Ethereum [ETH], appears to go over and under the hill constantly.

According to CoinMarketCap, the coin was trading at $108, with a market cap of $11 billion. The 24-hour trading volume of the coin was at $1 billion and the token had grown by 1.67% in the past 24 hours.

1-hour

The coin has shown a downtrend from $114.73 to $109.96. It also shows an uptrend from $111.97 to $113.70. There was an immediate resistance of $110.53. There was a strong support at $107.99.

Parabolic SAR is indicating a bearish market as the marker line is above the candles.

MACD is, however, indicating a bullish market, but there could be a possible crossover, making the coin side by the bear.

RSI, on the other hand, is showing that the buying and the selling pressure are evening each other out. However, the line is seen moving toward the oversold zone.

1-day

As per the one-day chart, a downtrend is seen from $178.99 to $117.53, which further extends from $456.63 to $211.40. The coin is showing a resistance at $220.84. However, a strong support is provided to the coin at $109.

Bollinger band are seen to move away from each other, indicating an increase in volatility, allowing the prices to fluctuate.

Awesome Oscillator indicates a bullish market with the bars turning green.

Chaikin Money Flow appears to be under the 0-mark, indicating a bearish market.

Conclusion

According to Parabolic SAR and CMF, the market appears to be bearish and Bollinger band indicates a growing volatility in the price.