Mudrex 4Hr Price Analysis #281 Ethereum (ETH/USD) – 11th June 2021

This is ETHUSD daily price analysis, provided by Mudrex (automated crypto investing platform). This daily price 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.

You can find price analysis from previous days on our blog and Tradingview.

Analysis Summary

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 a slight indication of bearish momentum. 

Mudrex 4Hr Price Analysis #281 Ethereum (ETH/USD) – 11th June 2021

ETHUSD 4hr price chart via tradingview

Oscillator indicators

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)41.6Neutral
Stochastic %K (14, 3, 3)24.5Neutral
Commodity Channel Index (20)-71Neutral
Average Directional Index (14)25.69Neutral
Awesome Oscillator-121Neutral
Momentum (10)-101.3Buy
MACD Level (12, 26)-42.78Sell
Stochastic RSI Fast (3, 3, 14, 14)12Neutral
Williams Percent Range (14)-73.77Neutral
Bull Bear Power-86.46Neutral
Ultimate Oscillator (7, 14, 28)51.2Neutral

Moving Average Indicators

Moving average (MA) indicators are indicating 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)2494.33Sell
Simple Moving Average (10)2512Sell
Exponential Moving Average (20)2527.34Sell
Simple Moving Average (20)2509.34Sell
Exponential Moving Average (30)2553.64Sell
Simple Moving Average (30)2629.35Sell
Exponential Moving Average (50)2646.41Sell
Simple Moving Average (50)2950.47Sell
Exponential Moving Average (100)2730.36Sell
Simple Moving Average (100)2630.54Sell
Exponential Moving Average (200)2646.33Sell
Simple Moving Average (200)2948.4Sell
Ichimoku Cloud Base Line (9, 26, 52, 26)2578.03Neutral
Volume Weighted Moving Average (20)2501.33Sell
Hull Moving Average (9)2435.34Buy

Trade volume

In the recent few candles, the traded volume observed was decreasing. It suggested that the traders might be in a cautious mode and waiting for a confirmation about the direction. 

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