Mudrex Price Analysis #130 Ethereum (ETH/USD) – 5th 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 moved sideways being above the midline Bollinger Band
  • Price volatility was high. The market moved ~4.47%, between $397 and $380

Today’s Trend analysis

  • ETHUSD expected to see an uptrend after getting rejected from 390 got support from midline Bollinger band
  • Price at time of publishing: $396
  • ETH’s market cap: $44 Billion
  • Oscillator indicators are mostly neutral. RSI at 62
  • Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
  • Volume indicators saw a decrease in the volume in last few candles being below the 20 candle moving average which also decreased in the last few candles.

Price expected to see an uptrend as higher lows are seen. Most of the Oscillator indicators are neutral. MACD histogram is negative, size increasing in the negative region. RSI at 62, above the midline with in the neutral region. CCI at 106, in the overbought region increasing upwards. Another interesting point to notice here is that the price after rejecting from 390 got a support at midline Bollinger Band.

ETHUSD 4hr price chart via tradingview

Oscillator indicators

Most of the oscillators are neutral. CCI at 106, in the overbought region. RSI above the midline around 62 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)62.95Neutral
Stochastic %K (14, 3, 3)65.36Neutral
Commodity Channel Index (20)106.35Neutral
Average Directional Index (14)24.79Neutral
Awesome Oscillator18.48Neutral
Momentum (10)2.43Sell
MACD Level (12, 26)10.03Sell
Stochastic RSI Fast (3, 3, 14, 14)30.23Neutral
Williams Percent Range (14)−28.19Neutral
Bull Bear Power10.04Neutral
Ultimate Oscillator (7, 14, 28)54.67Neutral

Moving Average Indicators

Moving average (MA) indicators are neutral. 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)391.91Buy
Simple Moving Average (5)390.56Buy
Exponential Moving Average (10)389.94Buy
Simple Moving Average (10)390.21Buy
Exponential Moving Average (20)383.69Buy
Simple Moving Average (20)385.39Buy
Exponential Moving Average (30)375.64Buy
Simple Moving Average (30)378.13Buy
Exponential Moving Average (50)359.41Buy
Simple Moving Average (50)356.21Buy
Exponential Moving Average (100)327.92Buy
Simple Moving Average (100)315.32Buy
Exponential Moving Average (200)294.19Buy
Simple Moving Average (200)275.85Buy
Ichimoku Cloud Base Line (9, 26, 52, 26)370.34Neutral
Volume Weighted Moving Average (20)383.67Buy
Hull Moving Average (9)391.71Buy

Trade volume

In recent few candles, the volume has been decreasing from 65k to 16.6k being below the 20 candle moving average which also saw a decrease from 62.5 to 52.5.

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