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 with the price getting midline resistance reaching the lower band
  • Price volatility was very high. The market moved ~4.89% between $394 and $375.61

Today’s Trend analysis

  • ETHUSD expected to see a downtrend as potential head and shoulder pattern observed, followed by a breakout expected
  • Price at the time of publishing: $378.93
  • ETH’s market cap: $42.96 Billion
  • Oscillator indicators are mostly neutral. RSI at 35
  • Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  • Volume indicators observed a relatively high value for blue candles while a low value for red candles

Price expected to see a downtrend as potential head and shoulder pattern observed, followed by a breakout expected. Most of the Oscillator indicators are neutral. MACD line moving below the signal line, with the histogram size increasing in the negative region suggesting bearish bias. RSI at 35, in the neutral region below the midline. CCI with a value of around -136 in the oversold region indicating an uptrend. Another interesting point to notice here is that the volume observed a relatively high value for blue candles while a low value for red candles

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -136, in the oversold region. RSI with a value of around 35 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)35.29Neutral
Stochastic %K (14, 3, 3)16.21Neutral
Commodity Channel Index (20)−136.29Neutral
Average Directional Index (14)21.48Neutral
Awesome Oscillator−11.18Sell
Momentum (10)−9.33Buy
MACD Level (12, 26)−4.70Sell
Stochastic RSI Fast (3, 3, 14, 14)22.52Neutral
Williams Percent Range (14)−92.09Neutral
Bull Bear Power−14.38Neutral
Ultimate Oscillator (7, 14, 28)39.23Neutral

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
1511
NameValueAction
Exponential Moving Average (5)384.48Sell
Simple Moving Average (5)386.37Sell
Exponential Moving Average (10)387.19Sell
Simple Moving Average (10)386.77Sell
Exponential Moving Average (20)391.25Sell
Simple Moving Average (20)392.62Sell
Exponential Moving Average (30)393.52Sell
Simple Moving Average (30)395.99Sell
Exponential Moving Average (50)394.12Sell
Simple Moving Average (50)402.18Sell
Exponential Moving Average (100)388.94Sell
Simple Moving Average (100)388.85Sell
Exponential Moving Average (200)380.65Sell
Simple Moving Average (200)372.97Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)393.6Neutral
Volume Weighted Moving Average (20)392.23Sell
Hull Moving Average (9)384.41Sell

Trade volume

In the recent few candles, the traded volume observed a relatively high value for blue candles while a low value for red candles, with the total traded volume between 23.38k and 13.35k. The 20-candle moving average saw a slight decrease from 20.01k to 18.89k.


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