Mudrex 4Hr Price Analysis #167 Ethereum (ETH/USD) – 27th 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 consolidated with price rejecting from midline Bollinger band
  • Price volatility was high. The market moved ~4.22%, between $393.5 and $377.56

Today’s Trend analysis

  • ETHUSD expected to see a slight downtrend as price rejected from midline with lower highs
  • Price at time of publishing: $385
  • ETH’s market cap: $43.4 Billion
  • Oscillator indicators are mostly neutral. RSI at 48
  • Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  • Volume indicators observed a decrease in volume as red candles were observed suggesting a weakening selling pressure

Price expected to see a slight downtrend as price rejected from midline with lower highs. Most of the Oscillator indicators are neutral. MACD  line touching the signal line, histogram size decreasing in the negative direction with about to cross zero. RSI at 48, below to the midline in the neutral region. CCI with a value of around -61 in the neutral region. Another interesting point to notice here is that the volume observed a decrease in volume with red candles observed suggesting a weak selling pressure.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at -61, in the neutral region. RSI with a value of around 48 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.

Relative Strength Index (14)50.28Neutral
Stochastic %K (14, 3, 3)21.61Neutral
Commodity Channel Index (20)−77.57Neutral
Average Directional Index (14)28.77Neutral
Awesome Oscillator8.52Neutral
Momentum (10)−46.18Sell
MACD Level (12, 26)11.36Sell
Stochastic RSI Fast (3, 3, 14, 14)1.23Neutral
Williams Percent Range (14)−79.77Neutral
Bull Bear Power−23.59Buy
Ultimate Oscillator (7, 14, 28)53.16Neutral


Moving Average Indicators

Moving average (MA) indicators indicating a downtrend. 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)390.17Sell
Simple Moving Average (5)390.75Sell
Exponential Moving Average (10)395.85Sell
Simple Moving Average (10)398.37Sell
Exponential Moving Average (20)392.46Sell
Simple Moving Average (20)404.75Sell
Exponential Moving Average (30)379.69Buy
Simple Moving Average (30)393.54Sell
Exponential Moving Average (50)352.24Buy
Simple Moving Average (50)339.79Buy
Exponential Moving Average (100)304.72Buy
Simple Moving Average (100)284.85Buy
Exponential Moving Average (200)259.72Buy
Simple Moving Average (200)237.84Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)386.00Neutral
Volume Weighted Moving Average (20)407.73Sell
Hull Moving Average (9)384.85Sell

Trade volume

In the recent few candles, the volume decreased as the red candles were observed from 37k to 9.75k with the 20-candle moving average increasing from 24.18k to 25.07k.

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