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 upper Bollinger band resistance
  • Price volatility was very high. The market moved ~6.03% between $624.57 and $589.04

Today’s Trend analysis

  • ETHUSD expected to see a slight downtrend with the price observing upper band resistance and double top pattern observed
  • Price at the time of publishing: $594.43
  • ETH’s market cap: $67.52 Billion
  • Oscillator indicators are mostly neutral. RSI at 50
  • Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  • Volume indicators observed an increase with an increase in price while a decrease in volume with a decline in price

Price expected to see a slight downtrend with the price observing upper band resistance and double top pattern observed. 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 50, in the neutral region, close to the midline. CCI with a value of around -55 in the neutral region with a pullback from overbought. Another interesting point to notice here is that the volume observed an increase with an increase in price while a decrease in volume with a decline in price indicating weak selling pressure.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at around -55, in the neutral region. RSI with a value of around 50 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
191
NameValueAction
Relative Strength Index (14)50.12Neutral
Stochastic %K (14, 3, 3)51.85Neutral
Commodity Channel Index (20)−59.89Neutral
Average Directional Index (14)15.7Neutral
Awesome Oscillator20.63Neutral
Momentum (10)−2.13Buy
MACD Level (12, 26)8.27Sell
Stochastic RSI Fast (3, 3, 14, 14)8.94Neutral
Williams Percent Range (14)−62.37Neutral
Bull Bear Power−3.57Neutral
Ultimate Oscillator (7, 14, 28)54.51Neutral

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
917
NameValueAction
Exponential Moving Average (5)603.55Sell
Simple Moving Average (5)606.85Sell
Exponential Moving Average (10)604.14Sell
Simple Moving Average (10)606Sell
Exponential Moving Average (20)599.24Sell
Simple Moving Average (20)602.29Sell
Exponential Moving Average (30)592.62Buy
Simple Moving Average (30)597.16Sell
Exponential Moving Average (50)580.25Buy
Simple Moving Average (50)566.87Buy
Exponential Moving Average (100)552.6Buy
Simple Moving Average (100)552.6Buy
Exponential Moving Average (200)510.02Buy
Simple Moving Average (200)494.91Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)599.84Neutral
Volume Weighted Moving Average (20)604.36Sell
Hull Moving Average (9)602.72Sell

Trade volume

In the recent few candles, the traded volume observed an increase with an increase in price while a decrease in volume with a decline in price, making the total volume between 14.48k and 42.91k, with the volume being below the 20-candle moving average which decreased from 41.8k to 35.8k.


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