ETHUSD to see a downtrend further4hr)| Bearish Momentum

Market in last 24hrs

• ETHUSD saw an uptrend and got rejected from the upper Bollinger band
  
• Price volatility was very high. The market moved ~6.13%, between $486.00 and $457.95
  

Today’s Trend analysis

• ETHUSD expected to see a downtrend as the price got rejected from the upper band after riding the band
  
• Price at time of publishing: $472
  
• ETH’s market cap: $53 Billion
  
• Oscillator indicators are mostly neutral. RSI at 73
  
• Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  
• Volume indicators observed a decrease as the price rides the band and rejects
  

Price expected to see a downtrend as the price got rejected from the upper band after riding the band. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, signal line approaching the MACD line from below with histogram size decreasing in positive direction. RSI at 73, in the overbought region decreasing, suggesting a trend reversal soon. CCI with a value of around 167 in the overbought region with a down move indicating a downtrend. Another interesting point to notice here is that the Bollinger band expansion takes place with a decrease in volume as price falls.
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The 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.

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