This is ETHUSD daily price analysis, provided by Mudrex (automated crypto investing platform). This analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4 hr candles.
Market in the last 24hrs
- ETHUSD witnessed a bit of a sell-off. The fall was not drastic, however, the bearish momentum persisted.
Today’s Trend analysis
- ETHUSD seems to be building a downtrend. Price is likely to face resistance from the midline of the Bollinger Bands.
- The decrease in the trading volume has not been encouraging for the short term traders either. However, the narrowing channel of the Bollinger Bands suggests some stability in the markets. It could indicate a consolidation on current levels.
- Price volatility remained moderate at approximately 4%, with the day’s range between $2403.32 — $2500
- Price at the time of publishing: $2435.76
- ETH’s market cap: $284.44 Billion
- Oscillator indicators are mostly neutral but are suggesting a bearish trend.
- Moving average Indicators are giving a strongly bearish view.
Price is expected to continue the bearish trend. Volatility will likely remain low in the smaller time frame. Most of the Oscillator indicators are neutral with slight indication of a bearish momentum.
ETHUSD 4hr price chart via tradingview
Most of the oscillators are neutral. MACD is at around -42, suggesting bearish momentum.
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)||41.6||Neutral|
|Stochastic %K (14, 3, 3)||24.5||Neutral|
|Commodity Channel Index (20)||-71||Neutral|
|Average Directional Index (14)||25.69||Neutral|
|MACD Level (12, 26)||-42.78||Sell|
|Stochastic RSI Fast (3, 3, 14, 14)||12||Neutral|
|Williams Percent Range (14)||-73.77||Neutral|
|Bull Bear Power||-86.46||Neutral|
|Ultimate Oscillator (7, 14, 28)||51.2||Neutral|
Moving Average Indicators
Moving average (MA) indicators are indicating a bearish momentum.
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 (10)||2494.33||Sell|
|Simple Moving Average (10)||2512||Sell|
|Exponential Moving Average (20)||2527.34||Sell|
|Simple Moving Average (20)||2509.34||Sell|
|Exponential Moving Average (30)||2553.64||Sell|
|Simple Moving Average (30)||2629.35||Sell|
|Exponential Moving Average (50)||2646.41||Sell|
|Simple Moving Average (50)||2950.47||Sell|
|Exponential Moving Average (100)||2730.36||Sell|
|Simple Moving Average (100)||2630.54||Sell|
|Exponential Moving Average (200)||2646.33||Sell|
|Simple Moving Average (200)||2948.4||Sell|
|Ichimoku Cloud Base Line (9, 26, 52, 26)||2578.03||Neutral|
|Volume Weighted Moving Average (20)||2501.33||Sell|
|Hull Moving Average (9)||2435.34||Buy|
In the recent few candles, the traded volume observed was decreasing. It suggested that the traders might be on a cautious mode and waiting for a confirmation about the direction.
Mudrex platform helps traders build no-code Algo trading bots using Technical analysis based indicators.
Mudrex Invest is a collection of reviewed and verified funds created by professional traders on Mudrex. Traders create these funds using their trading bots. Individual investors can invest in them for a monthly fee and gain the benefits of passive investing!
Signup today: https://mudrex.com/