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ETHUSD to see an uptrend(4Hr) | Bollinger band moving upwards

Market in last 24hrs

ETHUSD saw a decline in price followed by consolidation reaching the upper band
Price volatility was very high. The market moved ~14.94% between $587.68 and $511.25

Today’s Trend analysis

ETHUSD expected to see a continued uptrend as the price has been moving between the upper band and midline with the Bollinger band moving upward
Price at the time of publishing: $582.28
ETH’s market cap: $66.08 Billion
Oscillator indicators are mostly neutral. RSI at 73
Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
Volume indicators observed a decline in volume for red candles while observed an increase for blue candles

Price expected to see a continued uptrend as the price has been moving between the upper band and midline with the Bollinger band moving upward. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size increasing in the positive region suggesting bullish bias. RSI at 73, in the overbought region indicating a downtrend. CCI with a value of around 146 in the overbought region indicating a downtrend soon. Another interesting point to notice here is that the volume observed a decline in volume for red candles while observed an increase for blue candles indicating a strengthening buying pressure.
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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