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ETHUSD to see a downtrend(4Hr) | Bearish RSI and CCI

Market in last 24hrs
  • ETHUSD saw an uptrend with price moving along the upper Bollinger band
  • Price volatility was very high. The market moved ~8.56% between $621.94 and $572.86

Today’s Trend analysis
  • ETHUSD expected to see a downtrend as the price observed a resistance from the upper band with the Bollinger band moving upwards
  • Price at the time of publishing: $582.28
  • ETH’s market cap: $66.08 Billion
  • Oscillator indicators are mostly neutral. RSI at 74
  • Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed a change from an increase in volume with a price increase to increase in volume with a decline in price

Price expected to see a downtrend as the price observed a resistance from the upper band with Bollinger band moving upwards. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size decreasing in the positive region suggesting bullish bias. RSI at 74, in the overbought region indicating a downtrend. CCI with a value of around 105 in the overbought region indicating a downtrend soon. Another interesting point to notice here is that the volume observed a change from an increase in volume with a price increase to an increase in volume with a decline in price indicating a shift from buyers to sellers.
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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 4Hr candles.

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

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- Mudrex
Ethereum (Cryptocurrency)ethereumforecastethereumpriceETHUSDTechnical IndicatorsOscillatorsTrend Analysis

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