Mudrex 4Hr Price Analysis #145 Ethereum (ETH/USD) – 14th 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 saw an uptrend and broke the upper band
  • Price volatility was very high. The market moved ~14.89%, between $432 and $376

Today’s Trend analysis

  • ETHUSD expected to see a breakout as double bottoms observed
  • Price at time of publishing: $423
  • ETH’s market cap: $48.2 Billion
  • Oscillator indicators are mostly neutral. RSI at 72
  • Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
  • Volume indicators saw a spike as the price moved out of the Bollinger band and suggested a breakout

Price expected to see a breakout as double bottoms were observed along with rouding bottoms in the indicators like RSI. Most of the Oscillator indicators are neutral. MACD  line crossed above the signal line, histogram size increasing in the positive direction. RSI at 72, in the overbought region suggesting a bullish bias. CCI in the overbought region with a value of around 207 indicating a trend reversal. Another interesting point to notice here is that there was a spike in volume as the price breakout the double bottom resistance also the Bollinger Band expansion is observed.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 207, in the overbought region. RSI with a value of around 72 in the overbought region.

Definition:- Oscillator indicators are based on the 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)72.86Sell
Stochastic %K (14, 3, 3)87.34Neutral
Commodity Channel Index (20)207.91Sell
Average Directional Index (14)26.89Neutral
Awesome Oscillator16.83Buy
Momentum (10)38.36Buy
MACD Level (12, 26)6.86Buy
Stochastic RSI Fast (3, 3, 14, 14)94.63Neutral
Williams Percent Range (14)−12.37Neutral
Bull Bear Power41.44Neutral
Ultimate Oscillator (7, 14, 28)69.06Neutra

Moving Average Indicators

Moving average (MA) indicators are biased towards an uptrend. 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)414.09Buy
Simple Moving Average (5)411.41Buy
Exponential Moving Average (10)405.25Buy
Simple Moving Average (10)401.08Buy
Exponential Moving Average (20)398.18Buy
Simple Moving Average (20)392.69Buy
Exponential Moving Average (30)395.21Buy
Simple Moving Average (30)392.92Buy
Exponential Moving Average (50)389.93Buy
Simple Moving Average (50)392.22Buy
Exponential Moving Average (100)370.56Buy
Simple Moving Average (100)376.64Buy
Exponential Moving Average (200)334.77Buy
Simple Moving Average (200)317.39Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)398.61Neutral
Volume Weighted Moving Average (20)396.56Buy
Hull Moving Average (9)426.08Sell

Trade volume

In recent few candles, the traded volume saw a sudden spike in the volume as the price broke the resistance level. The traded volume was between 30.95k and 180.26k while the 20-candle moving average saw an increase from 34.5k to 44.6k.

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