Mudrex 4Hr Price Analysis #155 Ethereum (ETH/USD) – 20th 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 a downtrend riding the lower band
  • Price volatility was high. The market moved ~5.75%, between $416.38 and $393.75

Today’s Trend analysis

  • ETHUSD expected to see an uptrend as the price moved up after riding the lower band
  • Price at time of publishing: $404
  • ETH’s market cap: $45.5 Billion
  • Oscillator indicators are mostly neutral. RSI at 40
  • Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  • Volume indicators saw an increase in volume until reaching a spike and decreasing thereafter

Price expected to see an uptrend as price moved up after riding the lower band. Most of the Oscillator indicators are neutral. MACD  line approaching signal line from below, histogram size decreasing in the negative direction. RSI at 40, below the midline in the neutral region. CCI with a value of around -90 in the neutral region with a pull up from oversold region. Another interesting point to notice here is that the volume saw an increase until a spike and then decreased thereafter suggesting a weakening selling pressure.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -97, in the neutral region pulled up from oversold region. RSI with a value of around 40 below the midline, still 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)40.77Neutral
Stochastic %K (14, 3, 3)29.84Neutral
Commodity Channel Index (20)−97.71Neutral
Average Directional Index (14)26.79Neutral
Awesome Oscillator−19.09Sell
Momentum (10)−13.76Sell
MACD Level (12, 26)−4.69Sell
Stochastic RSI Fast (3, 3, 14, 14)42.07Neutral
Williams Percent Range (14)−67.01Neutral
Bull Bear Power−15.15Neutral
Ultimate Oscillator (7, 14, 28)46.87Neutral


Moving Average Indicators

Moving average (MA) indicators indicating towards a downtrend. Ichimoku Cloud is neutral and Hull MA is indicating a buying 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)407.41Sell
Simple Moving Average (5)405.42Buy
Exponential Moving Average (10)411.29Sell
Simple Moving Average (10)411.59Sell
Exponential Moving Average (20)416.42Sell
Simple Moving Average (20)420.64Sell
Exponential Moving Average (30)417.52Sell
Simple Moving Average (30)423.84Sell
Exponential Moving Average (50)414.59Sell
Simple Moving Average (50)417.46Sell
Exponential Moving Average (100)398.08Buy
Simple Moving Average (100)404.43Buy
Exponential Moving Average (200)362.09Buy
Simple Moving Average (200)351.30Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)420.00Neutral
Volume Weighted Moving Average (20)421.61Sell
Hull Moving Average (9)402.70Buy

Trade volume

In recent few candles, the volume increased from 15.29k to reach a spike at 60.18k followed by a decrease to 15.29k thereafter with the 20-candle moving average behaving in the same manner.

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