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ETHUSD to see an uptrend(4Hr) | Lower band support

Market in last 24hrs
  • ETHUSD saw a downtrend followed by support from lower band
  • Price volatility was very high. The market moved ~9.72% between $343.44 and $313

Today’s Trend analysis
  • ETHUSD expected to see an uptrend as price is tradng between midline and lower band after getting support form lower band it is expected to increase
  • Price at time of publishing: $327.54
  • ETH’s market cap: $36.9 Billion
  • Oscillator indicators are mostly neutral. RSI at 33
  • Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  • Volume indicators saw an increase in value as the price decreased followed by a decrease in value as price increased indicating a weak buying pressure

Price expected to see an uptrend as price is tradng between midline and lower band after getting support form lower band it is expected to increase. Most of the Oscillator indicators are neutral. MACD line approaching the signal line from below, with the histogram size decreasing in negative region suggesting bearish bias. RSI at 33, in the neutral region below midline with an upmove form oversold. CCI with a value of around -108 in the oversold region indicating an uptrend. Another interesting point to notice here is that the Bollinger band squeeze is taking place and volume observed an increase in value as the price decreased followed by a decrease in value as price increased indicating a weak buying pressure.
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.

DM to get details of the above analysis and list of indicator & their values used to arrive at the above conclusion.

Note: Above analysis would hold true if we do not encounter sudden jump in trade volume .

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- Mudrex
Ethereum (Cryptocurrency)ethereumforecastethereumpriceETHUSDTechnical IndicatorsOscillatorsTrend Analysis

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