ETHUSD to see downtrend(4hr)| Lower highs observed

Market in last 24hrs
-ETHUSD consolidated with price rejecting from midline Bollinger band
-Price volatility was high. The market moved ~4.22%, between $393.5 and $377.56

Today’s Trend analysis
-ETHUSD expected to see a slight downtrend as price rejected from midline with lower highs
-Price at time of publishing: $385
-ETH’s market cap: $43.4 Billion
-Oscillator indicators are mostly neutral. RSI at 48
-Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
-Volume indicators observed a decrease in volume as red candles were observed suggesting a weakening selling pressure

Price expected to see a slight downtrend as price rejected from midline with lower highs. Most of the Oscillator indicators are neutral. MACD line touching the signal line, histogram size decreasing in the negative direction with about to cross zero. RSI at 48, below to the midline in the neutral region. CCI with a value of around -61 in the neutral region. Another interesting point to notice here is that the volume observed a decrease in volume with red candles observed suggesting a weak selling pressure.
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The 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.

DM to get details of the above analysis and list of indicator & their values used to arrive at the above conclusion.

Note: Above analysis would hold true if we do not encounter sudden jump in trade volume .

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- Mudrex
Ethereum (Cryptocurrency)ethereumpriceETHUSDethusdforecastTechnical IndicatorsOscillatorsTrend Analysis

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