Latest news about Bitcoin and all cryptocurrencies. Your daily crypto news habit.
Ethereum price analysis for 8 December 2022, Ethereum, the second largest cryptocurrency based on market cap, is in a downtrend since November 2021. You can read more about Ethereum price from CoinCodex. On the fourth day of this week, it seems that pressure tries to balance between buyers and sellers based on the weekly Heikin Ashi Candlestick. The weekly MACD is still negative but forms a positive histogram. The weekly RSI fluctuates below 50, and the price is still under the 50 SMMA line.
The TFLOW V2 Algo has generated a Short signal.
The Daily MACD is negative with a positive histogram.
The Daily RSI fluctuates below 50.
The 50 Daily SMMA stands above the price which means that the bears control the price.
The 5-hour MACD slightly is negative. The 5-hour RSI fluctuates below 50.
The price of Ethereum continues in a downtrend in the medium-term scale, as the technical analysis and indicators coincide. In a short-term scale, sellers push the price below the 50 SMMA and the uptrend trendline. We observe the current price area for a possible retest back to it.
Read all the latest Crypto Analysis Articles here.
Join the TFLOW Trading Community: https://t.me/tflowglobal
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.