Mudrex Price Analysis #132 Ethereum (ETH/USD) – 6th 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 an uptrend after rejecting from 408
  • Price volatility was high. The market moved ~4.88%, between $408 and $389

Today’s Trend analysis

  • ETHUSD expected to move sideways as Bollinger Band squeezing and acting as resistance
  • Price at time of publishing: $395
  • ETH’s market cap: $44 Billion
  • Oscillator indicators are mostly neutral. RSI at 58
  • Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
  • Volume indicators saw a decrease in the volume in last few candles despite the price rejection indicating a weak selling pressure.

Price expected to move sideways as Bollinger Band squeezes. Most of the Oscillator indicators are neutral. MACD histogram is negative, size constant in the negative region. RSI at 58, above the midline in the neutral region. CCI dropped from 143 to 51, in the neutral region decreasing downwards. Another interesting point to notice here is that the Bollinger Band squeezes.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 45, in the neutral region. RSI above the midline around 58 in the neutral region.

Definition:- Oscillator indicators are based on 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)58.93Neutral
Stochastic %K (14, 3, 3)55.04Neutral
Commodity Channel Index (20)45.16Neutral
Average Directional Index (14)24.96Neutral
Awesome Oscillator15.53Neutral
Momentum (10)8.22Sell
MACD Level (12, 26)8.34Sell
Stochastic RSI Fast (3, 3, 14, 14)20.80Neutral
Williams Percent Range (14)−46.93Neutral
Bull Bear Power5.00Neutral
Ultimate Oscillator (7, 14, 28)52.98Neutral

Moving Average Indicators

Moving average (MA) indicators are biased towards an uptrend. 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)396.00Sell
Simple Moving Average (5)397.42Sell
Exponential Moving Average (10)394.79Buy
Simple Moving Average (10)395.00Buy
Exponential Moving Average (20)389.75Buy
Simple Moving Average (20)392.52Buy
Exponential Moving Average (30)382.75Buy
Simple Moving Average (30)387.63Buy
Exponential Moving Average (50)367.49Buy
Simple Moving Average (50)365.72Buy
Exponential Moving Average (100)335.77Buy
Simple Moving Average (100)324.89Buy
Exponential Moving Average (200)300.20Buy
Simple Moving Average (200)280.98Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)370.34Neutral
Volume Weighted Moving Average (20)392.52Buy
Hull Moving Average (9)397.13Sell

Trade volume

In recent few candles, the volume has been decreasing from 55.4k to 261 being below the 20 candle moving average which remained same at 35.4k

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