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.
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.
| Sell | Neutral | Buy |
| 2 | 6 | 3 |
| Name | Value | Action |
|---|---|---|
| Relative Strength Index (14) | 72.86 | Sell |
| Stochastic %K (14, 3, 3) | 87.34 | Neutral |
| Commodity Channel Index (20) | 207.91 | Sell |
| Average Directional Index (14) | 26.89 | Neutral |
| Awesome Oscillator | 16.83 | Buy |
| Momentum (10) | 38.36 | Buy |
| MACD Level (12, 26) | 6.86 | Buy |
| Stochastic RSI Fast (3, 3, 14, 14) | 94.63 | Neutral |
| Williams Percent Range (14) | −12.37 | Neutral |
| Bull Bear Power | 41.44 | Neutral |
| Ultimate Oscillator (7, 14, 28) | 69.06 | Neutra |
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.
| Sell | Neutral | Buy |
| 1 | 1 | 15 |
| Name | Value | Action |
|---|---|---|
| Exponential Moving Average (5) | 414.09 | Buy |
| Simple Moving Average (5) | 411.41 | Buy |
| Exponential Moving Average (10) | 405.25 | Buy |
| Simple Moving Average (10) | 401.08 | Buy |
| Exponential Moving Average (20) | 398.18 | Buy |
| Simple Moving Average (20) | 392.69 | Buy |
| Exponential Moving Average (30) | 395.21 | Buy |
| Simple Moving Average (30) | 392.92 | Buy |
| Exponential Moving Average (50) | 389.93 | Buy |
| Simple Moving Average (50) | 392.22 | Buy |
| Exponential Moving Average (100) | 370.56 | Buy |
| Simple Moving Average (100) | 376.64 | Buy |
| Exponential Moving Average (200) | 334.77 | Buy |
| Simple Moving Average (200) | 317.39 | Buy |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 398.61 | Neutral |
| Volume Weighted Moving Average (20) | 396.56 | Buy |
| Hull Moving Average (9) | 426.08 | Sell |
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.
About Mudrex
Mudrex platform helps traders build no-code Algo trading bots using Technical analysis based indicators.
Mudrex Invest is a collection of reviewed and verified funds created by professional traders on Mudrex. Traders create these funds using their trading bots. Individual investors can invest in them for a monthly fee and gain the benefits of passive investing!
Signup today: https://mudrex.com/
