ETHUSD to see a slight downtrend(4hr) | Lower highs observed

2020년 8월 18일

Market in last 24hrs
-ETHUSD moved sideways with rejection from upper Bollinger band
-Price volatility was high. The market moved ~5.71%, between $447.5 and $423.31

Today’s Trend analysis
-ETHUSD expected to see a slight downtrend as lower highs observed
-Price at time of publishing: $428
-ETH’s market cap: $48.2 Billion
-Oscillator indicators are mostly neutral. RSI at 53
-Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
-Volume indicators saw a decrease in volume in the last few candles as red candles were observed

Price expected to see a slight downtrend as Bollinger band continue to be squeezed and lower highs were observed. Most of the Oscillator indicators are neutral. MACD line below the signal line, histogram size increasing in the negative direction. RSI at 53, above the midline in the neutral region. CCI came back to the neutral region from the overbought region with a value of around -19. Another interesting point to notice here is that the volume was decreasing as the red candles were observed.
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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