ETHUSD to see a slight uptrend(4Hr) | Price riding upper band

2020年11月18日

Market in last 24hrs

• ETHUSD saw an uptrend with the price riding the upper band
  
• Price volatility was very high. The market moved ~7.26% between $495.68 and $462.10
  

Today’s Trend analysis

• ETHUSD expected to see an uptrend as the price has been riding the upper band with the Bollinger expansion taking place
  
• Price at the time of publishing: $472.54
  
• ETH’s market cap: $53.7 Billion
  
• Oscillator indicators are mostly neutral. RSI at 54
  
• Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  
• Volume indicators observed a change from decreasing with price decline to increase in volume as the price declines
  

Price expected to see an uptrend as the price has been riding the upper band with the Bollinger expansion taking place. 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 54, in the neutral region above the midline. CCI with a value of around 65 in the neutral region with a pullback from overbought. Another interesting point to notice here is that the volume observed a change from decreasing with price decline to increase in volume as the price declines indicating a shift from buyers to sellers.
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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.

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

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- Mudrex