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 an uptrend and getting a rejection from the upper band later on
  • Price volatility was very high. The market moved ~5.21% between $394.55 and $375

Today’s Trend analysis

  • ETHUSD expected to see a decline and get support from the midline to consolidate further as the price was trading inside the bands with higher highs being observed followed by rejection from upper band
  • Price at time of publishing: $386.7
  • ETH’s market cap: $43.5 Billion
  • Oscillator indicators are mostly neutral. RSI at 57
  • Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed an increase as the price increased and saw a decrease as the price declined

Price expected to see a decline and get support from the midline to consolidate further as the price was trading inside the bands with higher highs being observed followed by rejection from the upper band. Most of the Oscillator indicators are neutral. MACD  line crossed moving above the signal line, with the histogram size decreasing in positive region suggesting bullish bias. RSI at 60, in the neutral region above the midline. CCI with a value of around 94 in the neutral region with a pullback from the overbought region. Another interesting point to notice here is that the Bollinger band expansion taking place and volume observed an increase as the price increased and saw a decrease as the price declined to indicate a strengthening buying pressure.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 94, in the neutral region with a pullback. RSI with a value of around 59 in the neutral region above the midline.

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
371
NameValueAction
Relative Strength Index (14)59.93Neutral
Stochastic %K (14, 3, 3)83.01Neutral
Commodity Channel Index (20)94.27Neutral
Average Directional Index (14)19.59Neutral
Awesome Oscillator12.07Buy
Momentum (10)15.45Buy
MACD Level (12, 26)4.65Buy
Stochastic RSI Fast (3, 3, 14, 14)91.58Sell
Williams Percent Range (14)−20.57Neutral
Bull Bear Power10.82Neutral
Ultimate Oscillator (7, 14, 28)62.75Neutral

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
3113
NameValueAction
Exponential Moving Average (5)385.56Buy
Simple Moving Average (5)386.48Sell
Exponential Moving Average (10)381.78Buy
Simple Moving Average (10)380.31Buy
Exponential Moving Average (20)377.46Buy
Simple Moving Average (20)374.37Buy
Exponential Moving Average (30)375.17Buy
Simple Moving Average (30)373Buy
Exponential Moving Average (50)373.46Buy
Simple Moving Average (50)372.36Buy
Exponential Moving Average (100)376.41Buy
Simple Moving Average (100)374.89Buy
Exponential Moving Average (200)377.07Buy
Simple Moving Average (200)391.44Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)374.59Neutral
Volume Weighted Moving Average (20)374.09Buy
Hull Moving Average (9)390.73Sell

Trade volume

In the recent few candles, the volume saw an increase from 17.7k to 41.6k as the price increased and decreased to 18k as the price saw a decline, with a similar value for the 20-candle moving average which was between 27k and 29k.


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