Ethereum’s bulls halted by notorious bears as trend reversal takes place

Ethereum’s bulls halted by notorious bears as trend reversal takes place
(Source: Pixabay)

Ethereum [ETH] had a rough September as the price of the coin fell by over13% on September 24. This fall devalued the price of the coin to $163.19 from $189.79 within an hour. ETH has been making recovery attempts since and has managed to raise its value by 6.46% in October. The current price of the coin stands at $182.50 with a market cap of $19.74 billion and a 24-hour trading volume of $8.16 billion.

Source: CoinStats

Source: ETH/USD TradingView

Source: ETH/USD TradingView

According to the hourly and daily chart of Ethereum, a bearish trend looks more prevalent as indicated by Awesome Oscillator, Chaikin Money Flow, Parabolic SAR, and MACD.