This is ETHUSD daily price analysis, provided by Mudrex (automated crypto investing platform). This analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4 hr candles.

You can find price analysis from previous days on blog here and on Tradingview here.


Analysis Summary

Market in last 24hrs

  • ETHUSD saw a downtrend with riding the Lower Bollinger Band
  • Price volatility was high. The market moved ~7.69%, between $392 and $364

Today’s Trend analysis

  • ETHUSD expected to see a downtrend further as lower highs observed with the price riding the lower band
  • Price at time of publishing: $375
  • ETH’s market cap: $42.1 Billion
  • Oscillator indicators are mostly neutral. RSI at 33
  • Moving average indicators are biased towards a downtrend. Ichimoku Cloud is neutral
  • Volume indicators saw a increase in volume as the red candle size increased indicating a high volatility

Price expected to see a continued downtrend further as lower highs observed, the price moved inside between the midline and upper band since one month and now the price is riding the lower band. Most of the Oscillator indicators are neutral. MACD  line crossed below the signal line, histogram size increasing in the negative direction. RSI at 33, below the midline in the neutral region with a downmove. CCI in the oversold region with a value around -176. Another interesting point to notice here is that there was an increase in volume as the red candle size increased i.e. the difference between open and close was high.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -176, in the oversold region, suggesting a bullish bias. RSI below the midline around 33 in the neutral region with a downmove.

Definition:- Oscillator indicators are based on market’s property that what goes up must come down. Reversion to the mean is one of the most fundamental properties of any market. Oscillators are predictive in nature, specifying future price momentum.

SellNeutralBuy
272
NameValueAction
Relative Strength Index (14)34.26Neutral
Stochastic %K (14, 3, 3)32.27Neutral
Commodity Channel Index (20)−171.65Buy
Average Directional Index (14)24.64Neutral
Awesome Oscillator−11.26Sell
Momentum (10)−22.49Buy
MACD Level (12, 26)−2.86Sell
Stochastic RSI Fast (3, 3, 14, 14)0.00Neutral
Williams Percent Range (14)−73.22Neutral
Bull Bear Power−27.22Neutral
Ultimate Oscillator (7, 14, 28)59.59Neutral

Moving Average Indicators

Moving average (MA) indicators are biased towards a downtrend. Ichimoku Cloud is neutral and Hull MA is indicating a buying opportunity.

Definition:- Moving Average indicators are lagging indicators that help catch trends when they are beginning to take effect. The idea is to buy when the trend is moving up and sell when the trend is falling.

SellNeutralBuy
1115
NameValueAction
Exponential Moving Average (5)379.46Sell
Simple Moving Average (5)378.76Sell
Exponential Moving Average (10)383.67Sell
Simple Moving Average (10)386.36Sell
Exponential Moving Average (20)387.03Sell
Simple Moving Average (20)389.84Sell
Exponential Moving Average (30)387.53Sell
Simple Moving Average (30)388.66Sell
Exponential Moving Average (50)383.57Sell
Simple Moving Average (50)390.85Sell
Exponential Moving Average (100)362.74Buy
Simple Moving Average (100)367.07Buy
Exponential Moving Average (200)326.59Buy
Simple Moving Average (200)307.85Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)382.96Neutral
Volume Weighted Moving Average (20)389.84Sell
Hull Moving Average (9)373.56Buy

Trade volume

In recent few candles, the traded volume increased from 15.8k to 80.1k with the 20-candle moving average increasing from 24.6k to 31.4k.


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