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 to get midline resistance followed by lower band support
  • Price volatility was high. The market moved ~4.65% between $381.99 and $365.00

Today’s Trend analysis

  • ETHUSD expected to see a decline as the price started to ride lower band with the latest candle having the same open and close suggesting a gap down and breakout
  • Price at the time of publishing: $369.74
  • ETH’s market cap: $41.79 Billion
  • Oscillator indicators are mostly neutral. RSI at 41
  • Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  • Volume indicators observed an increase in volume with price decline while an increase with price decreasing

Price expected to see a decline as the price started to ride lower band with the latest candle having the same open and close suggesting a gap down and breakout. Most of the Oscillator indicators are neutral. MACD line moving below the signal line, with the histogram size increasing in negative region suggesting bearish bias. RSI at 41, in the neutral region below the midline. CCI with a value of around -222 in the oversold region. Another interesting point to notice here is that the volume observed an increase in volume with price decline while an increase with price decreasing suggesting a strong selling pressure.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -222, in the oversold region. RSI with a value of around 41 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
371
NameValueAction
Relative Strength Index (14)42.2Neutral
Stochastic %K (14, 3, 3)37.06Neutral
Commodity Channel Index (20)−224.82Neutral
Average Directional Index (14)15.02Neutral
Awesome Oscillator−1.71Sell
Momentum (10)−6.20Buy
MACD Level (12, 26)0.57Sell
Stochastic RSI Fast (3, 3, 14, 14)33.09Neutral
Williams Percent Range (14)−79.32Neutral
Bull Bear Power−10.42Sell
Ultimate Oscillator (7, 14, 28)45.5Neutral

MOVING AVERAGES

Moving Average Indicators

Moving average (MA) indicators indicating a downtrend. 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
12`14
NameValueAction
Exponential Moving Average (5)374.93Sell
Simple Moving Average (5)376.19Sell
Exponential Moving Average (10)376.22Sell
Simple Moving Average (10)376.29Sell
Exponential Moving Average (20)376.62Sell
Simple Moving Average (20)378.6Sell
Exponential Moving Average (30)375.27Sell
Simple Moving Average (30)378.14Sell
Exponential Moving Average (50)371.46Sell
Simple Moving Average (50)370.97Sell
Exponential Moving Average (100)365.75Buy
Simple Moving Average (100)360.46Buy
Exponential Moving Average (200)364.46Buy
Simple Moving Average (200)361.03Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)380.12Neutral
Volume Weighted Moving Average (20)378.02Sell
Hull Moving Average (9)376.01Sell

Trade volume

In the recent few candles, the traded volume saw an increase from 6.93k to 16.23k with price decline while volume decreased to 6.97k with an increase in price, with the total traded volume between 6.93k and 25.47k being below the 20-candle which had a decrease in value around 14.4kk and 13.2k.


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