ETHUSD(4Hr) : ETH back to its shenanigans

30 июн. 2021 г.

Market in the last 24hrs
The price saw a slightly bearish trend, with the price moving from upper to middle Bollinger band. Trading volume has been low in the last 24 hours.

Today’s Trend analysis
As the price reaches the middle Bollinger band we can expect 2 things to happen. First, if the price accepts the upper Bollinger band as a support line then we can see the price move in a consolidated manner between the middle and the upper band with a slight indication of a bullish trend. Second, if the price rejects the middle band as a support line then we can expect the price to move in a bearish momentum till it reaches the lower Bollinger band after which we can expect some consolidated movement with a slight indication of bearish momentum.

Price volatility was low at approximately 4.09%, with the day's range between $2091— $2242.
Price at the time of publishing: $2118
ETH's market cap: $246.5 Billion

However, the Indicator summary is giving a 'NEUTRAL' signal on ETHUSD.

Out of 11 Oscillator indicators, 2 are giving a SELL signal, 8 are neutral and 1 is giving a BUY signal.

Out of 15 Moving average indicators, 6 are giving a SELL signal, 1 is neutral and 8 are giving a BUY signal.

Volumes have remained moderate in the past 24 hours. The price can be seen increasing with a decrease in volume which could be an indication of a reversal.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4Hr candles.

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

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Any feedback and suggestions would help in further improving the analysis!