Ethereum [ETH] community raises concerns over Ethereum Foundation’s lack of transparency

click here to see original post

Earlier today, a majority of the coins dipped their toes in the bear’s pool, days after shifting to the bull’s side. Top coins such as Litecoin [LTC], Ethereum [ETH], Bitcoin Cash [BCH] and Tron [TRX] were the most affected, with some recording a loss of over 7% over the past 24 hours.

Ethereum one-day

Ethereum one-day price chart | Source: Trading View

The one-day chart for the cryptocurrency demonstrated a downtrend from $247.76 to $180.74. The uptrends for the coin were recorded from $82.92 to $103.22, and further from $140.91 to $175.78.

The immediate resistance for the coin was set at $180.85 and strong resistance was at $218.76. While the coin’s immediate support was seen at $125.09, strong support was at $82.78.

Bollinger Bands indicated a highly volatile market for the cryptocurrency as the bands were diverging from each other.

MACD continued to show its support to the bull’s reign as the moving average placed itself over the signal line after a crossover.

Parabolic SAR was also on the same boat as the dotted markers had aligned below the candlesticks.

Tron one-day

Tron one-day price chart | Source: Trading View

Tron one-day price chart | Source: Trading View

The downtrend for Tron in the one-day chart was outlined from $0.0390 to $0.0307. The uptrends for the coin were pictured from $0.0119 to $0.0129, and from $0.0129 to $0.0226.

The coin’s immediate resistance was placed at $0.0307 and the strong resistance was seen at $0.0391. The immediate support layer for the coin was pictured at $0.0214 and strong support was at $0.0118.

Chaikin Money Flow showed that the money was flowing into the market, indicating a bullish market. However, it was closing in on the zero mark, indicating the possibility of a trend reversal.

Klinger Oscillator showed the reading line over the signal line, a bullish sign. However, the lines were on the verge of a crossover, indicating a trend reversal.

Awesome Oscillator had already switched to the bear’s lane as the indicator pictured red bars instead of green.

Conclusion

On one hand, Ethereum showed that all the indicators were still in favor of the bull, despite today’s fall. On the other hand, Tron seemed to be in two minds as a majority of the indicators showed a bullish market, while also suggesting a possible bearish shift.

Share !