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 breakout and rejecting from the upper band
  • Price volatility was high. The market moved ~6.9%, between $430.5 and $402.76

Today’s Trend analysis

  • ETHUSD expected to see a slight downtrend as a gap up was observed post which the price rejected from the upper band
  • Price at time of publishing: $421
  • ETH’s market cap: $47.5 Billion
  • Oscillator indicators are mostly neutral. RSI at 68
  • Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed a decrease in volume in the recent candles after a sudden spike

Price expected to see a slight downtrend as a gap up was observed post which the price rejected from the upper band. Most of the Oscillator indicators are neutral. MACD  line above the signal line, histogram size decreasing in positive direction. RSI at 68, in the neutral region with a pullback from overbought. CCI with a value of around 127 in the overbought region with a down move indicating a downtrend. Another interesting point to notice here is that the Bollinger band expansion is taking place.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 128, in the overbought region indicating a downtrend. RSI with a value of around 68 pulled back from overbought to 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
263
NameValueAction
Relative Strength Index (14)68.34Neutral
Stochastic %K (14, 3, 3)88.7Neutral
Commodity Channel Index (20)127.78Sell
Average Directional Index (14)28.12Neutral
Awesome Oscillator26.94Buy
Momentum (10)21.09Buy
MACD Level (12, 26)8.58Buy
Stochastic RSI Fast (3, 3, 14, 14)81.12Neutral
Williams Percent Range (14)−17.89Sell
Bull Bear Power24.82Neutral
Ultimate Oscillator (7, 14, 28)67.09Neutral

MOVING AVERAGES

Moving Average Indicators

Moving average (MA) indicators indicating an uptrend. Ichimoku Cloud is neutral and Hull MA is indicating a selling 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
2114
NameValueAction
Exponential Moving Average (5)421.91Buy
Simple Moving Average (5)423.98Sell
Exponential Moving Average (10)415.89Buy
Simple Moving Average (10)413.8Buy
Exponential Moving Average (20)407.98Buy
Simple Moving Average (20)404.67Buy
Exponential Moving Average (30)404.07Buy
Simple Moving Average (30)397.93Buy
Exponential Moving Average (50)401.52Buy
Simple Moving Average (50)396.05Buy
Exponential Moving Average (100)398.35Buy
Simple Moving Average (100)406.99Buy
Exponential Moving Average (200)379.33Buy
Simple Moving Average (200)392.96Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)399.5Neutral
Volume Weighted Moving Average (20)405.77Buy
Hull Moving Average (9)431.57Sell

Trade volume

In the recent few candles, the volume reached a spike as breakout observed, and decreased thereafter. The spike was observed at 58k which decreased up to 10k in the subsequent candles. The 20-candle moving average increased from 18.2k to 22k.


About Mudrex

Mudrex platform helps traders build no-code Algo trading bots using Technical analysis based indicators.

Mudrex Invest is a collection of reviewed and verified funds created by professional traders on Mudrex. Traders create these funds using their trading bots. Individual investors can invest in them for a monthly fee and gain the benefits of passive investing!
Signup today: https://mudrex.com/