ETHUSD to move sideways (4hr) | Trade inside Bollinger Band

11 авг. 2020 г.

Market in last 24hrs
-ETHUSD moved sideways above the midline Bollinger Band
-Price volatility was relatively low. The market moved ~3.94%, between $400 and $385

Today’s Trend analysis
-ETHUSD expected to move sideways as the price is trading inside the band with relatively low volatility.
-Price at time of publishing: $391
-ETH’s market cap: $43.7 Billion
-Oscillator indicators are mostly neutral. RSI at 49
-Moving average indicators are biased towards a downtrend. Ichimoku Cloud is neutral
-Volume indicators saw a sudden decrease in volume in the red candle when the price fell suggesting a shift from sellers to buyers implying weak selling pressure.

Price expected to consolidate as it is trading inside the Bollinger band with relatively low volatility. Most of the Oscillator indicators are neutral. MACD histogram is changing it’s direction frequently, with the MACD and signal line are moving together. RSI at 49, around the midline in the neutral region with a downmove. CCI drastically decreased from 101 to -8, in the neutral region decreasing downwards. Another interesting point to notice here is that there was decrease in volume in the red candles indicating a weak 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