Mudrex 4Hr Price Analysis #169 Ethereum (ETH/USD) – 28th 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 getting support from lower Bollinger band
  • Price volatility was high. The market moved ~6.9%, between $397.15 and $371.5

Today’s Trend analysis

  • ETHUSD expected to see an uptrend as a series of lower highs and higher lows were observed
  • Price at time of publishing: $388
  • ETH’s market cap: $43.7 Billion
  • Oscillator indicators are mostly neutral. RSI at 50
  • Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed a decrease in volume in the recent candles suggesting bullish momentum.

Price expected to see an uptrend as a series of lower highs and higher lows were observed. Most of the Oscillator indicators are neutral. MACD  line crossed above the signal line, histogram size increasing in the positive direction. RSI at 50, close to the midline in the neutral region. CCI with a value of around 30 in the neutral region with an upmove. Another interesting point to notice here is that the price is trading inside the band with the Bollinger band squeeze taking place.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 28, in the neutral region with an upmove. RSI with a value of around 50 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)49.17Neutral
Stochastic %K (14, 3, 3)61.66Neutral
Commodity Channel Index (20)28.29Neutral
Average Directional Index (14)18.87Neutral
Awesome Oscillator−5.81Neutral
Momentum (10)−2.05Buy
MACD Level (12, 26)−3.08Buy
Stochastic RSI Fast (3, 3, 14, 14)92.28Neutral
Williams Percent Range (14)−32.08Neutral
Bull Bear Power6.90Neutral
Ultimate Oscillator (7, 14, 28)51.77Neutral


Moving Average Indicators

Moving average (MA) indicators indicating an uptrend. 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)385.59Buy
Simple Moving Average (5)384.28Buy
Exponential Moving Average (10)385.38Buy
Simple Moving Average (10)384.71Buy
Exponential Moving Average (20)387.27Buy
Simple Moving Average (20)386.47Buy
Exponential Moving Average (30)389.72Sell
Simple Moving Average (30)390.13Sell
Exponential Moving Average (50)393.87Sell
Simple Moving Average (50)394.44Sell
Exponential Moving Average (100)394.33Sell
Simple Moving Average (100)405.40Sell
Exponential Moving Average (200)373.85Buy
Simple Moving Average (200)384.86Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)389.49Neutral
Volume Weighted Moving Average (20)385.69Buy
Hull Moving Average (9)385.23Buy

Trade volume

In the recent few candles, the volume decreased in the recent candles from 34.4k to 11k with the 20-candle moving average changing between 24.5k to 25.5k suggesting bullish momentum.

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