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 downwards movement getting support from $369
- Price volatility was high. The market moved ~8.21%, between $399.7 and $369.3
Today’s Trend analysis
- ETHUSD expected to see an uptrend as the price is trading between the parallel channel
- Price at time of publishing: $383
- ETH’s market cap: $42.9 Billion
- Oscillator indicators are mostly neutral. RSI at 38
- Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
- Volume indicators observed an increase in volume with red candles observed and decreased further with blue candles
Price expected to see an uptrend as the price is trading between the parallel channel. Most of the Oscillator indicators are neutral. MACD line below the signal line, histogram size in the negative direction. RSI at 38, below to the midline in the neutral region. CCI with a value of around -113 in the overbought region, suggesting a downtrend. Another interesting point to notice here is that the volume observed an increase in volume with red candles observed and decreased further with blue candles suggesting a strengthen selling pressure.
Oscillator indicators
Most of the oscillators are neutral. CCI at -113, in the overbought region suggesting a trend reversal. RSI with a value of around 38 below 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.
| Sell | Neutral | Buy |
| 2 | 8 | 1 |
| Name | Value | Action |
|---|---|---|
| Relative Strength Index (14) | 39.05 | Neutral |
| Stochastic %K (14, 3, 3) | 36.40 | Neutral |
| Commodity Channel Index (20) | −113.18 | Neutral |
| Average Directional Index (14) | 26.36 | Neutral |
| Awesome Oscillator | −13.36 | Sell |
| Momentum (10) | −21.00 | Buy |
| MACD Level (12, 26) | −4.51 | Sell |
| Stochastic RSI Fast (3, 3, 14, 14) | 21.83 | Neutral |
| Williams Percent Range (14) | −68.60 | Neutral |
| Bull Bear Power | −13.98 | Neutral |
| Ultimate Oscillator (7, 14, 28) | 55.69 | Neutral |
Moving Average Indicators
Moving average (MA) indicators indicating 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.
| Sell | Neutral | Buy |
| 13 | 1 | 3 |
| Name | Value | Action |
|---|---|---|
| Exponential Moving Average (5) | 385.44 | Sell |
| Simple Moving Average (5) | 383.55 | Sell |
| Exponential Moving Average (10) | 389.07 | Sell |
| Simple Moving Average (10) | 392.15 | Sell |
| Exponential Moving Average (20) | 392.77 | Sell |
| Simple Moving Average (20) | 393.27 | Sell |
| Exponential Moving Average (30) | 395.61 | Sell |
| Simple Moving Average (30) | 393.46 | Sell |
| Exponential Moving Average (50) | 399.39 | Sell |
| Simple Moving Average (50) | 402.26 | Sell |
| Exponential Moving Average (100) | 396.87 | Sell |
| Simple Moving Average (100) | 406.35 | Sell |
| Exponential Moving Average (200) | 372.43 | Buy |
| Simple Moving Average (200) | 378.76 | Buy |
| Ichimoku Cloud Base Line (9, 26, 52, 26) | 389.68 | Neutral |
| Volume Weighted Moving Average (20) | 392.79 | Sell |
| Hull Moving Average (9) | 379.46 | Buy |
Trade volume
In recent few candles, the volume was increasing for the red candles and started to decrease as the blue candles were observed. The volume increased from 17.3k to 67.8k and further decreased to 15.9k. The 20-candle moving average increased from 18.8k to 23.2k
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