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 the blog here and on Tradingview here.


Analysis Summary

Market in last 24hrs

  • ETHUSD saw a downtrend followed by consolidation after lower band support
  • Price volatility was very high. The market moved ~7.11% between $409.41 and $382.21

Today’s Trend analysis

  • ETHUSD expected to see a sideways movement as the price consolidated after getting lower band support, expected to increase and see the midline resistance
  • Price at the time of publishing: $396.11
  • ETH’s market cap: $44.87 Billion
  • Oscillator indicators are mostly neutral. RSI at 42
  • Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  • Volume indicators observed a change from volume increase with price decline to volume increase with the price increase

Price expected to see a sideways movement as the price consolidated after getting lower band support, expected to increase and see the midline resistance. Most of the Oscillator indicators are neutral. MACD line approaching from below the signal line, with the histogram size decreasing in negative region suggesting bearish bias. RSI at 42, in the neutral region below the midline. CCI with a value of around -88 in the neutral region with an up move from the oversold region. Another interesting point to notice here is that the Bollinger band expansion takes place and the volume observed a change from volume increase with price decline to volume increase with price increase indicating a shift from sellers to buyers.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -88, in the neutral region. RSI with a value of around 42 below the midline 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)42.41Neutral
Stochastic %K (14, 3, 3)33.34Neutral
Commodity Channel Index (20)−88.47Neutral
Average Directional Index (14)25.19Neutral
Awesome Oscillator−13.70Sell
Momentum (10)−12.41Buy
MACD Level (12, 26)−2.13Sell
Stochastic RSI Fast (3, 3, 14, 14)16.36Neutral
Williams Percent Range (14)−62.00Neutral
Bull Bear Power−11.53Neutral
Ultimate Oscillator (7, 14, 28)51.11Neutral

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
917
NameValueAction
Exponential Moving Average (5)395.46Buy
Simple Moving Average (5)393.62Buy
Exponential Moving Average (10)398.21Sell
Simple Moving Average (10)398.83Sell
Exponential Moving Average (20)401.25Sell
Simple Moving Average (20)405.06Sell
Exponential Moving Average (30)400.95Sell
Simple Moving Average (30)407.85Sell
Exponential Moving Average (50)397.29Sell
Simple Moving Average (50)397.59Sell
Exponential Moving Average (100)387.87Buy
Simple Moving Average (100)386.33Buy
Exponential Moving Average (200)378.56Buy
Simple Moving Average (200)369.14Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)401.01Neutral
Volume Weighted Moving Average (20)399.21Sell
Hull Moving Average (9)391.72Buy

Trade volume

In the recent few candles, the traded volume observed an increase in volume with price decline which changed to increase in volume with the price increase, making the total traded volume between 34.71k and 5.18k. With the 20-candle moving average saw a similar value around 13.4k.


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