Ethereum [ETH] Harbors The Bears Staggering The Growth Of The Altcoin thumbnail

Ethereum [ETH] Harbors The Bears Staggering The Growth Of The Altcoin

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The crypto market was seen recovering from its recent downfall. Ethereum [ETH]. Binance coin [BNB] and several other coins were finding their way back into new highs. While Bitcoin [BTC] continued to remain below $59k, the altcoin market rose. The dominance of the king coin slumped to a low of $56.2%. The overall market cap of the crypto industry also took a hit and had slumped by 6.07%. At press time the global crypto market cap was noted at $1.87 trillion.

Ethereum wasn’t very far off from its all-time high of $2,152.45. At the time of writing, ETH was trading for $2,031.19 with a 2.49% surge in the last 24-hours. The altcoin managed to secure profits of over 8.85% over the last seven days. The market cap of the asset was noted at $227.94 billion as it retained itself as the second-largest cryptocurrency. Additionally, ETH’s market dominance was at 12.1%.

Ethereum [ETH] Four-Hour Price Chart On Coinbase

Ethereum

The short-term price chart of ETH announced the presence of bulls. The Parabolic SAR indicator laid out dotted lines over the candlesticks, which further indicated that any possible uptrend could be diminished. While this indicator revealed a bearish momentum, the Awesome Oscillator indicator suggested that the bulls were in the ETH market as it formed green closing bars.

While the altcoin had both the bulls and the bears in its market, the Money Flow Index indicator exhibited a sellers’ sentiment in the ETH market.

Ethereum [ETH] One-Day Price Chart On Coinbase

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The one-day price chart of the altcoin was inclining towards the bears. The MACD line remained below the signal line for quite a while now. This bearish crossover seems to have staggered the growth of the altcoin. The Chaikin Money Flow seemed to be struggling to make it past the zero median. While it was in the bullish arena, it could fall below zero at any time. The Relative Strength Index indicator was exerting dainty bullish sentiment as the marker was around the 50 median.

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