Mudrex 4Hr Price Analysis #139 Ethereum (ETH/USD) – 11th August 2020

This is ETHUSD daily price analysis, provided by Mudrex (automated crypto investing platform). This 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 4 hr candles.

You can find price analysis from previous days on blog here and on Tradingview here.

Analysis Summary

Market in last 24hrs

  • ETHUSD moved sideways above the midline Bollinger Band
  • Price volatility was relatively low. The market moved ~3.94%, between $400 and $385

Today’s Trend analysis

  • ETHUSD expected to move sideways as the price is trading inside the band with relatively low volatility.
  • Price at time of publishing: $391
  • ETH’s market cap: $43.7 Billion
  • Oscillator indicators are mostly neutral. RSI at 49
  • Moving average indicators are biased towards a downtrend. Ichimoku Cloud is neutral
  • Volume indicators saw a sudden decrease in volume in the red candle when the price fell suggesting a shift from sellers to buyers implying weak selling pressure.

Price expected to consolidate as it is trading inside the Bollinger band with relatively low volatility. Most of the Oscillator indicators are neutral. MACD histogram is changing it’s direction frequently, with the MACD and signal line are moving together. RSI at 49, around the midline in the neutral region with a downmove. CCI drastically decreased from 101 to -8, in the neutral region decreasing downwards. Another interesting point to notice here is that there was decrease in volume in the red candles indicating a weak selling pressure.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -19, in the neutral region, saw a drastic decrease from 101. RSI around the midline around 49 in the neutral region.

Definition:- Oscillator indicators are based on market’s property that what goes up must come down. Reversion to the mean is one of the most fundamental properties of any market. Oscillators are predictive in nature, specifying future price momentum.

Relative Strength Index (14)49.04Neutral
Stochastic %K (14, 3, 3)60.21Neutral
Commodity Channel Index (20)−19.85Neutral
Average Directional Index (14)14.43Neutral
Awesome Oscillator2.84Buy
Momentum (10)3.88Sell
MACD Level (12, 26)1.64Sell
Stochastic RSI Fast (3, 3, 14, 14)40.62Neutral
Williams Percent Range (14)−57.13Neutral
Bull Bear Power−0.49Neutral
Ultimate Oscillator (7, 14, 28)51.87Neutral

Moving Average Indicators

Moving average (MA) indicators are biased towards a downtrend. Ichimoku Cloud is neutral and Hull MA is indicating a selling opportunity.

Definition:- Moving Average indicators are lagging indicators that help catch trends when they are beginning to take effect. The idea is to buy when the trend is moving up and sell when the trend is falling.

Exponential Moving Average (5)393.62Sell
Simple Moving Average (5)394.92Sell
Exponential Moving Average (10)393.61Sell
Simple Moving Average (10)393.99Sell
Exponential Moving Average (20)392.65Sell
Simple Moving Average (20)391.95Sell
Exponential Moving Average (30)391.00Sell
Simple Moving Average (30)391.70Sell
Exponential Moving Average (50)384.34Buy
Simple Moving Average (50)391.71Sell
Exponential Moving Average (100)360.43Buy
Simple Moving Average (100)362.59Buy
Exponential Moving Average (200)323.23Buy
Simple Moving Average (200)303.72Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)380.26Neutral
Volume Weighted Moving Average (20)393.79Sell
Hull Moving Average (9)394.38Sell

Trade volume

In recent few candles, the volume saw a decrease in the red candles as the price falls indicating a weak selling pressure and shift from sellers to buyers, with the volume decreasing from 45k to 15k with the 20-candle moving average decreasing from 31k to 24k.

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