ETHUSD to see a continued downtrend (4Hr)! | Price riding band

12 авг. 2020 г.

Market in last 24hrs
-ETHUSD saw a downtrend with riding the Lower Bollinger Band
-Price volatility was high. The market moved ~7.69%, between $392 and $364

Today’s Trend analysis
-ETHUSD expected to see a downtrend further as lower highs observed with the price riding the lower band
-Price at time of publishing: $375
-ETH’s market cap: $42.1 Billion
-Oscillator indicators are mostly neutral. RSI at 33
-Moving average indicators are biased towards a downtrend. Ichimoku Cloud is neutral
-Volume indicators saw a increase in volume as the red candle size increased indicating a high volatility

Price expected to see a continued downtrend further as lower highs observed, the price moved inside between the midline and upper band since one month and now the price is riding the lower band. Most of the Oscillator indicators are neutral. MACD line crossed below the signal line, histogram size increasing in the negative direction. RSI at 33, below the midline in the neutral region with a downmove. CCI in the oversold region with a value around -176. Another interesting point to notice here is that there was an increase in volume as the red candle size increased i.e. the difference between open and close was high.
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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