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 an uptrend with price moving along the upper Bollinger band
  • Price volatility was very high. The market moved ~8.56% between $621.94 and $572.86

Today’s Trend analysis

  • ETHUSD expected to see a downtrend as the price observed a resistance from the upper band with the Bollinger band moving upwards
  • Price at the time of publishing: $582.28
  • ETH’s market cap: $66.08 Billion
  • Oscillator indicators are mostly neutral. RSI at 74
  • Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed a change from an increase in volume with a price increase to increase in volume with a decline in price

Price expected to see a downtrend as the price observed a resistance from the upper band with Bollinger band moving upwards. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size decreasing in the positive region suggesting bullish bias. RSI at 74, in the overbought region indicating a downtrend. CCI with a value of around 105 in the overbought region indicating a downtrend soon. Another interesting point to notice here is that the volume observed a change from an increase in volume with a price increase to an increase in volume with a decline in price indicating a shift from buyers to sellers.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 105, in the overbought region. RSI with a value of around 74 also in the overbought region indicating a downtrend.

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
452
NameValueAction
Relative Strength Index (14)74.41Sell
Stochastic %K (14, 3, 3)92.6Sell
Commodity Channel Index (20)105.93Sell
Average Directional Index (14)44.08Neutral
Awesome Oscillator73.04Neutral
Momentum (10)72.37Buy
MACD Level (12, 26)29.29Buy
Stochastic RSI Fast (3, 3, 14, 14)70.53Neutral
Williams Percent Range (14)−12.85Sell
Bull Bear Power47.6Neutral
Ultimate Oscillator (7, 14, 28)63.92Neutral

Moving Average Indicators

Moving average (MA) indicators indicating an uptrend. 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
1115
NameValueAction
Exponential Moving Average (5)603.04Buy
Simple Moving Average (5)604.14Buy
Exponential Moving Average (10)589.36Buy
Simple Moving Average (10)590.25Buy
Exponential Moving Average (20)565.82Buy
Simple Moving Average (20)560.81Buy
Exponential Moving Average (30)548.52Buy
Simple Moving Average (30)537.29Buy
Exponential Moving Average (50)525.16Buy
Simple Moving Average (50)510.39Buy
Exponential Moving Average (100)491.59Buy
Simple Moving Average (100)483.12Buy
Exponential Moving Average (200)455.87Buy
Simple Moving Average (200)442.47Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)546.55Neutral
Volume Weighted Moving Average (20)565.29Buy
Hull Moving Average (9)616.82Sell

Trade volume

In the recent few candles, the traded volume observed a change from an increase in volume with a price increase to an increase in volume as the price observed a decline. The total traded volume was between 124k and 40.7k. The 20-candle moving average increased from 56.14k to 63.49k.


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/