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 consolidation after declining and getting support from lower band
  • Price volatility was very high. The market moved ~4.74% between $382.21 and $364.89

Today’s Trend analysis

  • ETHUSD expected to see an uptrend and get rejected from the midline as the price has been trading inside the bands with lower band as support and upper as resistance, with midline acting as support as well as resistance but hasn’t allowed the price to break it in the first attempt
  • Price at time of publishing: $373.8
  • ETH’s market cap: $42.1 Billion
  • Oscillator indicators are mostly neutral. RSI at 44
  • Moving average indicators are suggesting a downptrend. Ichimoku Cloud is neutral
  • Volume indicators observed an increase as the price decreased and saw a decrease as the price saw an uptrend

Price expected to see an uptrend and get rejected from the midline as the price has been trading inside the bands with lower band as support and upper as resistance, with midline acting as support as well as resistance but hasn’t allowed the price to break it in the first attempt. Most of the Oscillator indicators are neutral. MACD  line approaching the signal line from below, with the histogram size decreasing in negative region suggesting bearish bias. RSI at 44, in the neutral region below the midline. CCI with a value of around -101 in the oversold region with an upmove from -240. Another interesting point to notice here is that the Bollinger band squeeze taking place and volume observed an increase as the price decreased and saw a decrease as the price saw an uptrend to indicate a weakening buying pressure.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -101, in the oversold region with an upmove. RSI with a value of around 44 in the neutral region below 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
380
NameValueAction
Relative Strength Index (14)44.76Neutral
Stochastic %K (14, 3, 3)34.64Neutral
Commodity Channel Index (20)−101.61Neutral
Average Directional Index (14)17.16Neutral
Awesome Oscillator−4.93Sell
Momentum (10)−11.42Sell
MACD Level (12, 26)−0.96Sell
Stochastic RSI Fast (3, 3, 14, 14)18.32Neutral
Williams Percent Range (14)−63.83Neutral
Bull Bear Power−5.20Neutral
Ultimate Oscillator (7, 14, 28)52.66Neutral

MOVING AVERAGES

Moving Average Indicators

Moving average (MA) indicators indicating an uptrend. 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
3113
NameValueAction
Exponential Moving Average (5)374.07Sell
Simple Moving Average (5)372.27Buy
Exponential Moving Average (10)376.17Sell
Simple Moving Average (10)377.38Sell
Exponential Moving Average (20)377.77Sell
Simple Moving Average (20)380.58Sell
Exponential Moving Average (30)377.51Sell
Simple Moving Average (30)379.21Sell
Exponential Moving Average (50)376.35Sell
Simple Moving Average (50)376.08Sell
Exponential Moving Average (100)377.34Sell
Simple Moving Average (100)366.46Buy
Exponential Moving Average (200)377.5Sell
Simple Moving Average (200)387.09Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)378.83Neutral
Volume Weighted Moving Average (20)379.68Sell
Hull Moving Average (9)370.48Buy

Trade volume

In the recent few candles, the volume saw an increase from 5.12k to 23.85k as the price decreased and decreased to 9.07k as the price saw an uptrend, with a decline in the 20-candle moving average from 23.2k and 17.3k.


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/