ETH expected to see a downtrend(1D)! | Upper band as resistance

16 авг. 2020 г.

Market in last 1 week
-ETHUSD saw an uptrend and rejected from the upper band
-Price volatility was very high. The market moved ~21.9%, between $445 and $365

Today’s Trend analysis
-ETHUSD expected to see a downtrend as the price got resistance from upper band
-Price at time of publishing: $430
-ETH’s market cap: $48.35 Billion
-Oscillator indicators are mostly neutral. RSI at 72
-Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
-Volume indicators saw similar volume levels except for the increase of volume in the recent larger blue candles.

Price expected to see a downtrend as the price got resistance from Upper Bollinger Band and rejected from $445. Most of the Oscillator indicators are neutral. MACD histogram size consnat in the positive region, with signal line below the MACD line. RSI at 72, in the overbought region indicating a bullish bias. CCI is around 121, and in the overbought region. Another interesting point to notice here is that volume was constant but saw a spike when larger blue candles were observed.
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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 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