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 as a breakout with a gap up observed in price
  • Price volatility was very high. The market moved ~8.18% between $617.87 and $571.11

Today’s Trend analysis

  • ETHUSD expected to see a sideways movement with upper band resistance and Bollinger band moving upwards
  • Price at the time of publishing: $608.66
  • ETH’s market cap: $69.17 Billion
  • Oscillator indicators are mostly neutral. RSI at 69
  • Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed a change from increasing with an increase in price to a decrease in volume with an increase in price

Price expected to see a sideways movement with upper band resistance and 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 69, in the neutral region above the midline, close to the overbought region. 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 increasing with an increase in price to a decrease in volume with an increase 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 around 103, in the overbought region. RSI with a value of around 69 in the neutral region close to the midline.

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
272
NameValueAction
Relative Strength Index (14)69.05Neutral
Stochastic %K (14, 3, 3)92.35Neutral
Commodity Channel Index (20)103.8Sell
Average Directional Index (14)28.62Neutral
Awesome Oscillator60.56Buy
Momentum (10)55.01Sell
MACD Level (12, 26)18.7Buy
Stochastic RSI Fast (3, 3, 14, 14)81.39Neutral
Williams Percent Range (14)−8.95Neutral
Bull Bear Power42.68Neutral
Ultimate Oscillator (7, 14, 28)60.58Neutral

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)604.36Buy
Simple Moving Average (5)606.36Buy
Exponential Moving Average (10)592.25Buy
Simple Moving Average (10)592.38Buy
Exponential Moving Average (20)574.88Buy
Simple Moving Average (20)564.13Buy
Exponential Moving Average (30)566.13Buy
Simple Moving Average (30)546.4Buy
Exponential Moving Average (50)554.84Buy
Simple Moving Average (50)563.3Buy
Exponential Moving Average (100)529.66Buy
Simple Moving Average (100)525.64Buy
Exponential Moving Average (200)490.76Buy
Simple Moving Average (200)474.38Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)555.9Neutral
Volume Weighted Moving Average (20)565.02Buy
Hull Moving Average (9)616.25Sell

Trade volume

In the recent few candles, the traded volume observed a change from increasing with an increase in price to a decrease in volume with an increase in price, making the total volume between 20.25k and 99.04k. The 20-candle moving average observed an increase from 28.9k to 33.4k.


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