Ethereum, Harmony and Spell Token Price Analysis: 07 December



Published 3 seconds ago Updated 3 seconds ago

Following the crash on December 4, Ethereum has risen to trade above the $4000 level again. At press time, the coin was trading for $4357.43. The alt-king propelled above the $4272.77 mark and could attempt to trade near the resistance mark of $4540.97 Ethereum’s additional resistance stood at its multi-week high of $4865.31. Over the last 24 hours, the coin registered a 6.2% increase in value.  The trading volume of Ethereum also crept up over the last day.

Ethereum Price Analysis 

Ethereum’s technicals portrayed a bullish outlook, the coin’s price was seen above the 20-SMA line which indicated that price momentum was still controlled by the buyers in the market.

MACD signalled a bullish crossover and displayed green histograms. The Relative Strength Index was above the half-line in correspondence to the 20-SMA line, although the indicator flashed a downtick, this could mean a dip in prices over the upcoming trading sessions.

In case of a price reversal, the support region for Ethereum awaits at $4010.80 and then at $3854.10.

Harmony Price Analysis 

Harmony was priced at $0.195 after it surged 16% over the last 24 hours. Harmony was among the top gainers that showed double-digit appreciation. Over the past 72 hours, the token displayed a steady recovery, however, in the last 24 hours the prices have seen a considerable increase. The outlook was also positive at the time of writing.

Buying pressure as indicated on the Relative Strength Index also showed a surge, the token also recorded a hike in the trading volume over the past day.

MACD’s bullish crossover agreed with the bullish price action. A continuous upward push will cause Harmony to encounter resistance at $0.208 and then at $0.269, a level that bulls have not gotten past in the last few days. Additional price ceilings awaited the coin at $0.334 and at $0.368, a level the coin last touched in October.

Bollinger Bands displayed constriction, however, it also flashed a little relaxation which is usually indicative of volatile price action.

On the flip side, the major support level was at $0.162.

Spell Token Price Analysis 

Spell Token surged by a massive 60.9% over the last 24 hours, it is the native token of DeFi protocol. The token depicted an enormous growth in its trading volume by 97.83% over the last 24 hours. Major technicals have pointed towards a massive bull price action.

Relative Strength Index in the last 24 hours revised its monthly high which is indicative of a growth in the number of buyers in the market. MACD also underwent a bullish crossover.

Capital inflows were in surplus as seen on the Chaikin Money Flow, which also was the monthly high for the token.

The tremendous surge in prices could be a consequence of the increase in the growth of decentralized stablecoins. is powered by the SPELL Token which is a stable coin, the total value locked of which has been increasing along with its circulating supply.


The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
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