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 touching the midline Bollinger band
  • Price volatility was very high. The market moved ~7.57% between $623.22 and $579.35

Today’s Trend analysis

  • ETHUSD expected to see a sideways movement as the price might observe midline support with Bollinger band squeeze taking place
  • Price at the time of publishing: $596.14
  • ETH’s market cap: $67.62 Billion
  • Oscillator indicators are mostly neutral. RSI at 62
  • Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed an increase in volume with the decline in price while observed a decrease in volume with the price increase

Price expected to see a sideways movement as the price might observe midline support with Bollinger band squeeze taking place. Most of the Oscillator indicators are neutral. MACD line crossed below the signal line, with the histogram size increasing in the negative region suggesting bearish bias. RSI at 62, in the neutral region above the midline. CCI with a value of around 38 in the neutral region with a down move. Another interesting point to notice here is that the volume observed an increase in volume with the decline in price while observed a decrease in volume with the price increase indicating strengthening selling pressure.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at around 38, in the neutral region. RSI with a value of around 62 above 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
290
NameValueAction
Relative Strength Index (14)62.64Neutral
Stochastic %K (14, 3, 3)63.86Neutral
Commodity Channel Index (20)38.86Neutral
Average Directional Index (14)41.92Neutral
Awesome Oscillator49.44Neutral
Momentum (10)5.07Sell
MACD Level (12, 26)22.28Sell
Stochastic RSI Fast (3, 3, 14, 14)19.43Neutral
Williams Percent Range (14)−37.35Neutral
Bull Bear Power−7.94Neutral
Ultimate Oscillator (7, 14, 28)57.69Neutral

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
4112
NameValueAction
Exponential Moving Average (5)598.2Sell
Simple Moving Average (5)600.61Sell
Exponential Moving Average (10)596.46Sell
Simple Moving Average (10)603.79Sell
Exponential Moving Average (20)581.46Buy
Simple Moving Average (20)583.1Buy
Exponential Moving Average (30)565.75Buy
Simple Moving Average (30)561.83Buy
Exponential Moving Average (50)541.35Buy
Simple Moving Average (50)527.75Buy
Exponential Moving Average (100)503.98Buy
Simple Moving Average (100)492.79Buy
Exponential Moving Average (200)464.34Buy
Simple Moving Average (200)448.26Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)563.38Neutral
Volume Weighted Moving Average (20)582.97Buy
Hull Moving Average (9)594.47Buy

Trade volume

In the recent few candles, the traded volume observed an increase in volume with the decline in price while observed a decrease in volume with the price increase. The total traded volume was between 37.15k and 70.14k. The 20-candle moving average observed an increase from 61.48k to 62.94k.


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