ETHUSD saw a consolidation after declining and getting support from lower band
Price volatility was very high. The market moved ~4.74% between $382.21 and $364.89
Today’s Trend analysis
ETHUSD expected to see an uptrend and get rejected from the midline as the price has been trading inside the bands with lower band as support and upper as resistance, with midline acting as support as well as resistance but hasn’t allowed the price to break it in the first attempt
Price at time of publishing: $373.8
ETH’s market cap: $42.1 Billion
Oscillator indicators are mostly neutral. RSI at 44
Moving average indicators are suggesting a downptrend. Ichimoku Cloud is neutral
Volume indicators observed an increase as the price decreased and saw a decrease as the price saw an uptrend
Price expected to see an uptrend and get rejected from the midline as the price has been trading inside the bands with lower band as support and upper as resistance, with midline acting as support as well as resistance but hasn’t allowed the price to break it in the first attempt. 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 44, in the neutral region below the midline. CCI with a value of around -101 in the oversold region with an upmove from -240. Another interesting point to notice here is that the Bollinger band squeeze taking place and volume observed an increase as the price decreased and saw a decrease as the price saw an uptrend to indicate a weakening buying pressure. ----------------------------------------------------------------------------------------
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 .