Mudrex 4Hr Price Analysis #161 Ethereum (ETH/USD) – 24th 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 sideways movement trading below the midline Bollinger band
  • Price volatility was high. The market moved ~4.06%, between $399.25 and $383.66

Today’s Trend analysis

  • ETHUSD expected to see a slight uptrend as higher lowers observed
  • Price at time of publishing: $397
  • ETH’s market cap: $44.6 Billion
  • Oscillator indicators are mostly neutral. RSI at 49
  • Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed was relatively low around a similar value in the recent candles

Price expected to see a slight uptrend as higher lows observed with the price breaking the midline band. Most of the Oscillator indicators are neutral. MACD  line crossed above the signal line, histogram size increasing in the positive direction. RSI at 49, close to the midline in the neutral region. CCI with a value of around 30 in the neutral region with an up move. Another interesting point to notice here is that the volume had a similar value in the recent candles.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 30, in the neutral region with an upmove. RSI with a value of around 49 close to 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)49.12Neutral
Stochastic %K (14, 3, 3)65.34Neutral
Commodity Channel Index (20)29.18Neutral
Average Directional Index (14)31.48Neutral
Awesome Oscillator−10.39Neutral
Momentum (10)7.29Sell
MACD Level (12, 26)−4.79Buy
Stochastic RSI Fast (3, 3, 14, 14)94.32Neutral
Williams Percent Range (14)−7.10Neutral
Bull Bear Power3.14Neutral
Ultimate Oscillator (7, 14, 28)60.03Neutral


Moving Average Indicators

Moving average (MA) indicators indicating 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)393.82Buy
Simple Moving Average (5)393.62Buy
Exponential Moving Average (10)393.29Buy
Simple Moving Average (10)391.87Buy
Exponential Moving Average (20)396.26Buy
Simple Moving Average (20)395.01Buy
Exponential Moving Average (30)399.71Sell
Simple Moving Average (30)399.90Sell
Exponential Moving Average (50)403.27Sell
Simple Moving Average (50)410.72Sell
Exponential Moving Average (100)397.73Buy
Simple Moving Average (100)405.57Sell
Exponential Moving Average (200)369.68Buy
Simple Moving Average (200)370.57Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)399.38Neutral
Volume Weighted Moving Average (20)396.74Buy
Hull Moving Average (9)394.73Buy

Trade volume

In recent few candles, the volume has been relatively low being almost similar in the last few candles. The traded volume was nearly around 3.2k below the 20-candle moving average which decreased from 7.3k to 61.k

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