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 sideways movement with consolidation in price to reach the midline resistance and fall
  • Price volatility was very high. The market moved ~5.48% between $411.77 and $390.35

Today’s Trend analysis

  • ETHUSD expected to see a downtrend after the price saw midline support and started to decline with the Bollinger band squeeze
  • Price at the time of publishing: $396.45
  • ETH’s market cap: $44.87 Billion
  • Oscillator indicators are mostly neutral. RSI at 44
  • Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  • Volume indicators observed an increase with price increase while volume decrease with the price decline

Price expected to see a downtrend after the price saw midline support and started to decline with the Bollinger band squeeze. Most of the Oscillator indicators are neutral. MACD line crossed below the signal line, with the histogram in the negative region suggesting bearish bias. RSI at 44, in the neutral region below the midline. CCI with a value of around -56 in the neutral region with a down move. Another interesting point to notice here is that the volume observed an increase with price increase while volume decrease with the price decline indicating a strong buying pressure.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -65, in the neutral region. RSI with a value of around 44 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
380
NameValueAction
Relative Strength Index (14)44.58Neutral
Stochastic %K (14, 3, 3)69.71Neutral
Commodity Channel Index (20)−65.81Neutral
Average Directional Index (14)18.38Neutral
Awesome Oscillator−2.57Neutral
Momentum (10)3.33Sell
MACD Level (12, 26)−0.38Sell
Stochastic RSI Fast (3, 3, 14, 14)71.15Neutral
Williams Percent Range (14)−47.25Neutral
Bull Bear Power−0.52Sell
Ultimate Oscillator (7, 14, 28)55.62Neutral

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
1214
NameValueAction
Exponential Moving Average (5)401.94Sell
Simple Moving Average (5)404.17Sell
Exponential Moving Average (10)401.93Sell
Simple Moving Average (10)399.53Sell
Exponential Moving Average (20)402.62Sell
Simple Moving Average (20)403.16Sell
Exponential Moving Average (30)402.09Sell
Simple Moving Average (30)406.31Sell
Exponential Moving Average (50)398.71Sell
Simple Moving Average (50)400.26Sell
Exponential Moving Average (100)389.53Buy
Simple Moving Average (100)387.96Buy
Exponential Moving Average (200)379.87Buy
Simple Moving Average (200)370.75Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)400.32Neutral
Volume Weighted Moving Average (20)399.85Sell
Hull Moving Average (9)405.71Sell

Trade volume

In the recent few candles, the traded volume observed an increase in volume from 5.28k to 28.87k with a price increase. The volume further saw a decrease till 10.95k with a price decline. The 20-candle moving average observed an increase from 13.47k to 15.92k.


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