Mudrex 4Hr Price Analysis #149 Ethereum (ETH/USD) – 17th 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 around the midline Bollinger band after falling from upper band post-breakout
  • Price volatility was high. The market moved ~6.07%, between $437 and $412

Today’s Trend analysis

  • ETHUSD expected to see a sideways movement as Bollinger Band squeezes
  • Price at time of publishing: $425
  • ETH’s market cap: $47.79 Billion
  • Oscillator indicators are mostly neutral. RSI at 51
  • Moving average indicators are mostly neutral. Ichimoku Cloud is neutral
  • Volume indicators saw a decrease in volume in the last few candles being below the 20-candles moving average

Price expected to see a sideways movement as Bollinger band squeezes and price moves alongside of midline Bollinger band. Most of the Oscillator indicators are neutral. MACD  line crossed below the signal line, histogram size increasing in the negative direction. RSI at 51, above the midline in the neutral region. CCI in the neutral region as well with a value around -91. Another interesting point to notice here is that the volume was decreasing as the price for resistance from the upper Bollinger band.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -89, in the neutral region. RSI with a value of around 51 above the midline in the neutral 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)51.87Neutral
Stochastic %K (14, 3, 3)48.98Neutral
Commodity Channel Index (20)−89.35Neutral
Average Directional Index (14)22.11Neutral
Awesome Oscillator15.36Neutral
Momentum (10)−12.56Buy
MACD Level (12, 26)5.82Sell
Stochastic RSI Fast (3, 3, 14, 14)20.16Neutral
Williams Percent Range (14)−63.59Neutral
Bull Bear Power−8.34Neutral
Ultimate Oscillator (7, 14, 28)54.38Neutral

Moving Average Indicators

Moving average (MA) indicators suggesting a neutral move. 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)427.08Sell
Simple Moving Average (5)428.94Sell
Exponential Moving Average (10)427.92Sell
Simple Moving Average (10)428.12Sell
Exponential Moving Average (20)424.75Sell
Simple Moving Average (20)431.02Sell
Exponential Moving Average (30)419.96Buy
Simple Moving Average (30)418.42Buy
Exponential Moving Average (50)411.08Buy
Simple Moving Average (50)407.08Buy
Exponential Moving Average (100)389.00Buy
Simple Moving Average (100)395.83Buy
Exponential Moving Average (200)350.75Buy
Simple Moving Average (200)334.63Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)410.30Neutral
Volume Weighted Moving Average (20)431.40Sell
Hull Moving Average (9)428.94Sell

Trade volume

In recent few candles, the traded volume has decreased consistently from 12.3k to 3.89k being below the 20-candle volume average which decreased from 12.15k to 9.6k.

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