ETHUSD to see continued uptrend(4Hr) | Strong buying pressure

2020년 11월 20일

Market in last 24hrs

• ETHUSD saw a consolidation after getting the midline support
  
• Price volatility was very high. The market moved ~8.18% between $507.69 and $469.29
  

Today’s Trend analysis

• ETHUSD expected to see a continued uptrend as the price saw midline support with price started to ride the upper band
  
• Price at the time of publishing: $503.40
  
• ETH’s market cap: $57.13 Billion
  
• Oscillator indicators are mostly neutral. RSI at 72
  
• Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  
• Volume indicators observed a decline in volume as the price saw a decline while observed an increase with an increase in price
  

Price expected to see a continued uptrend as the price saw midline support with price started to ride the upper band. Most of the Oscillator indicators are neutral. MACD line crossed above the signal line, with the histogram size increasing in the positive region suggesting bullish bias. RSI at 72, in the overbought region indicating a downtrend. CCI with a value of around 265 in the overbought region indicating a downtrend. Another interesting point to notice here is that the volume observed a decline in volume as the price saw a decline while observed an increase with an increase in price indicating a strong buying 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.

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

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- Mudrex