ETH to see downtrend(4Hr)|Gap down & Potential breakout expected

Market in last 24hrs

• ETHUSD saw a downtrend to get midline resistance followed by lower band support
  
• Price volatility was high. The market moved ~4.65% between $381.99 and $365.00
  

Today’s Trend analysis

• ETHUSD expected to see a decline as the price started to ride lower band with the latest candle having the same open and close suggesting a gap down and breakout
  
• Price at the time of publishing: $369.74
  
• ETH’s market cap: $41.79 Billion
  
• Oscillator indicators are mostly neutral. RSI at 41
  
• Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  
• Volume indicators observed an increase in volume with price decline while an increase with price decreasing
  

Price expected to see a decline as the price started to ride lower band with the latest candle having the same open and close suggesting a gap down and breakout. Most of the Oscillator indicators are neutral. MACD line moving below the signal line, with the histogram size increasing in negative region suggesting bearish bias. RSI at 41, in the neutral region below the midline. CCI with a value of around -222 in the oversold region. Another interesting point to notice here is that the volume observed an increase in volume with price decline while an increase with price decreasing suggesting a strong selling pressure.
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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 4Hr 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