ETH waiting for the spark to take off..scenario reverse of BTC
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Quick glance: ETH has been trying to break away from the consolidation lately. However, that hasn't happened yet. If we compare the technical indicators, it has been a very different story compared to BTC. Ether is bullish on the longer timeframe, whereas BTC is still bearish. Dollar cost averaging or DCA might be a very prudent approach in ETH.
Market in the last 24hrs
ETH is in a range-bound consolidation. Traded volumes have remained low.
Today’s Trend analysis
We expect the short trend to continue in the consolidation range. The worst case scenario for the near term is $1730. There is a strong support zone from $1730-$1950.
Price volatility remained moderate at approximately 3.6%, with the day's range between $2092.90 — $2168.82
Price at the time of publishing: $2098.07
ETH's market cap: $240.34 Billion
Volumes have remained low in the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24 hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
Quick glance: ETH has been trying to break away from the consolidation lately. However, that hasn't happened yet. If we compare the technical indicators, it has been a very different story compared to BTC. Ether is bullish on the longer timeframe, whereas BTC is still bearish. Dollar cost averaging or DCA might be a very prudent approach in ETH.
Market in the last 24hrs
ETH is in a range-bound consolidation. Traded volumes have remained low.
Today’s Trend analysis
We expect the short trend to continue in the consolidation range. The worst case scenario for the near term is $1730. There is a strong support zone from $1730-$1950.
Price volatility remained moderate at approximately 3.6%, with the day's range between $2092.90 — $2168.82
Price at the time of publishing: $2098.07
ETH's market cap: $240.34 Billion
- Out of 11 Oscillator indicators, 9 are neutral, 1 is bearish and 1 is bullish.
- Out of 15 Moving average indicators, 1 is 'NEUTRAL', 10 are bearish and 4 are bullish .
- Indicator summary is giving a 'SELL' signal on ETHUSD .
Volumes have remained low in the past 24 hours.
----------------------------------------------------------------------------------------
The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24 hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
----------------------------------------------------------------------------------------
Keep supporting:)
-Mudrex
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