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 downwards movement getting support from $369
  • Price volatility was high. The market moved ~8.21%, between $399.7 and $369.3

Today’s Trend analysis

  • ETHUSD expected to see an uptrend as the price is trading between the parallel channel
  • Price at time of publishing: $383
  • ETH’s market cap: $42.9 Billion
  • Oscillator indicators are mostly neutral. RSI at 38
  • Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  • Volume indicators observed an increase in volume with red candles observed and decreased further with blue candles

Price expected to see an uptrend as the price is trading between the parallel channel. Most of the Oscillator indicators are neutral. MACD  line below the signal line, histogram size in the negative direction. RSI at 38, below to the midline in the neutral region. CCI with a value of around -113 in the overbought region, suggesting a downtrend. Another interesting point to notice here is that the volume observed an increase in volume with red candles observed and decreased further with blue candles suggesting a strengthen selling pressure.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -113, in the overbought region suggesting a trend reversal. RSI with a value of around 38 below to the midline, still in the neutral region.

Definition:- Oscillator indicators are based on the 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
281
NameValueAction
Relative Strength Index (14)39.05Neutral
Stochastic %K (14, 3, 3)36.40Neutral
Commodity Channel Index (20)−113.18Neutral
Average Directional Index (14)26.36Neutral
Awesome Oscillator−13.36Sell
Momentum (10)−21.00Buy
MACD Level (12, 26)−4.51Sell
Stochastic RSI Fast (3, 3, 14, 14)21.83Neutral
Williams Percent Range (14)−68.60Neutral
Bull Bear Power−13.98Neutral
Ultimate Oscillator (7, 14, 28)55.69Neutral

MOVING AVERAGES

Moving Average Indicators

Moving average (MA) indicators indicating 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
1313
NameValueAction
Exponential Moving Average (5)385.44Sell
Simple Moving Average (5)383.55Sell
Exponential Moving Average (10)389.07Sell
Simple Moving Average (10)392.15Sell
Exponential Moving Average (20)392.77Sell
Simple Moving Average (20)393.27Sell
Exponential Moving Average (30)395.61Sell
Simple Moving Average (30)393.46Sell
Exponential Moving Average (50)399.39Sell
Simple Moving Average (50)402.26Sell
Exponential Moving Average (100)396.87Sell
Simple Moving Average (100)406.35Sell
Exponential Moving Average (200)372.43Buy
Simple Moving Average (200)378.76Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)389.68Neutral
Volume Weighted Moving Average (20)392.79Sell
Hull Moving Average (9)379.46Buy

Trade volume

In recent few candles, the volume was increasing for the red candles and started to decrease as the blue candles were observed. The volume increased from 17.3k to 67.8k and further decreased to 15.9k. The 20-candle moving average increased from 18.8k to 23.2k


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