The cryptocurrency market seems to be on an uptrend with a majority of the cryptocurrencies seeing green across the spectrum. Cryptocurrencies such as Bitcoin [BTC], Ethereum [ETH] , Ripple[XRP] Bitcoin Cash [BCH] all rode the bull after a long bearish market.
The uptrends and downtrends seem to be racing each other in the one-hour chart. The downtrend is seen ranging from $214.06 to $207.81, with an uptrend ranging $201.01 to $207. Support is set up at $195.99 and resistance at $213.99
TheRSI-It represents an oversold market coming to an end as it is at the center of the RSI band, indicating a balance in buying and selling pressure.
TheRVGI line– As shown in the chart is crossing over the signal line, indicating a bullish crossover.
The Relative Vigor Index-It is demonstrating a bullish crossover as theRVGIline has crossed over the signal line.
1 Day Chart
The downtrend is visible from $456.47 to $199.75, with a support seen at $182.79. The resistance is seen at $247.76, with a successive resistance set up at $317.55.
TheParabolic SAR-The markers are developing below the candles, indicating a bullish pressure.
TheMACD- The line is crossing over the signal line, indicating a bullish crossover.
TheAwesome Oscillator- It is seen indicating red spikes below the zero line, indicating that the buying momentum is decreasing in the market.
In the one-hour time-frame, RSI shows a rather neutral position, while RVGI indicates a bullish market.
In the one-day time-frame, the indicators are all pointing at a bullish trend, except for the AO indicator.