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Ethereum [ETH] Price Analysis: Prices rise, but bears yet to abandon the market

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Ethereum [ETH] continuedit sideway movement as it looked to recover from a minor price fall. The Vitalik Buterin-backed virtual asset improved its valuation by 3.13 percent against the US dollar and was priced at $169.62, at press time. The trade volume recorded over the last 24 hours was about $5.06 billion.

Ethereum 1-day chart

The one-day chart for Ethereum exhibited a downtrend which lowered the valuation from $140.71 to $108.79. However, the recent bullish run helped the token improve its price from $140.71 to $181.34. The resistance line since the bullish wave has remained at $181.84, while the support line was at $105.78.

The Parabolic SAR’s dotted markers remained above the candlesticks and pointed towards a bearish trend for the token.

The Chaikin Money Flow indicated a cash in-flow for the token’s market as the CMF line remained above the zero line.

The Awesome Oscillator gave the bears an upper hand in terms of market momentum as red bars dominated the chart.

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