ETHUSD to see a slight uptrend(4hr) | Price riding bands

20 авг. 2020 г.

Market in last 24hrs
-ETHUSD saw a downtrend riding the lower band
-Price volatility was high. The market moved ~5.75%, between $416.38 and $393.75

Today’s Trend analysis
-ETHUSD expected to see an uptrend as the price moved up after riding the lower band
-Price at time of publishing: $404
-ETH’s market cap: $45.5 Billion
-Oscillator indicators are mostly neutral. RSI at 40
-Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
-Volume indicators saw an increase in volume until reaching a spike and decreasing thereafter

Price expected to see an uptrend as price moved up after riding the lower band. Most of the Oscillator indicators are neutral. MACD line approaching signal line from below, histogram size decreasing in the negative direction. RSI at 40, below the midline in the neutral region. CCI with a value of around -90 in the neutral region with a pull up from oversold region. Another interesting point to notice here is that the volume saw an increase until a spike and then decreased thereafter suggesting a weakening selling pressure.
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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 1 D 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