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 the blog here and on Tradingview here.


Analysis Summary

Market in last 24hrs

  • ETHUSD saw a decline in price followed by consolidation reaching the upper band
  • Price volatility was very high. The market moved ~14.94% between $587.68 and $511.25

Today’s Trend analysis

  • ETHUSD expected to see a continued uptrend as the price has been moving between the upper band and midline with the Bollinger band moving upward
  • Price at the time of publishing: $582.28
  • ETH’s market cap: $66.08 Billion
  • Oscillator indicators are mostly neutral. RSI at 73
  • Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  • Volume indicators observed a decline in volume for red candles while observed an increase for blue candles

Price expected to see a continued uptrend as the price has been moving between the upper band and midline with the Bollinger band moving upward. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size increasing in the positive region suggesting bullish bias. RSI at 73, in the overbought region indicating a downtrend. CCI with a value of around 146 in the overbought region indicating a downtrend soon. Another interesting point to notice here is that the volume observed a decline in volume for red candles while observed an increase for blue candles indicating a strenghtening buying pressure.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 146, in the overbought region. RSI with a value of around 73 also in the overbought region indicating a downtrend.

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.

SellNeutralBuy
173
NameValueAction
Relative Strength Index (14)73.19Sell
Stochastic %K (14, 3, 3)86.81Neutral
Commodity Channel Index (20)146.18Neutral
Average Directional Index (14)37.53Neutral
Awesome Oscillator52.54Buy
Momentum (10)47.15Buy
MACD Level (12, 26)23.24Buy
Stochastic RSI Fast (3, 3, 14, 14)43.32Neutral
Williams Percent Range (14)−2.97Neutral
Bull Bear Power64.49Neutral
Ultimate Oscillator (7, 14, 28)66.53Neutral

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.

SellNeutralBuy
0116
NameValueAction
Exponential Moving Average (5)567.9Buy
Simple Moving Average (5)565.67Buy
Exponential Moving Average (10)554.45Buy
Simple Moving Average (10)553.93Buy
Exponential Moving Average (20)535.22Buy
Simple Moving Average (20)530.68Buy
Exponential Moving Average (30)521.94Buy
Simple Moving Average (30)512.25Buy
Exponential Moving Average (50)504.28Buy
Simple Moving Average (50)492.71Buy
Exponential Moving Average (100)477.53Buy
Simple Moving Average (100)474.28Buy
Exponential Moving Average (200)446.86Buy
Simple Moving Average (200)435.99Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)526.13Neutral
Volume Weighted Moving Average (20)531.93Buy
Hull Moving Average (9)581.02Buy

Trade volume

In the recent few candles, the traded volume observed an increase in value for blue candles while the volume observed a decline in value as the red candles were observed. The total traded volume was between 5.31k and 27.73k. The 20-candle moving average increased from 12.42k to 14.57k.


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