ETHUSD to move sideways4hr)| Bollinger Band expands

Market in last 24hrs
-ETHUSD saw an uptrend with riding the upper Bollinger band
-Price volatility was very high. The market moved ~11.57%, between $466.62 and $418.22

Today’s Trend analysis
-ETHUSD expected to see a sideways movement as the price is riding the upper band with Bollinger band expansion
-Price at time of publishing: $462
-ETH’s market cap: $51.8 Billion
-Oscillator indicators are mostly neutral. RSI at 79
-Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
-Volume indicators observed a sudden increase in volume as price saw an uptrend

Price expected to see a sideways movement as the price is riding the upper band with Bollinger band expansion. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, histogram size increasing in positive direction. RSI at 79, in the overbought region with an up move, suggesting a trend reversal soon. CCI with a value of around 177 in the overbought region indicating a downtrend. Another interesting point to notice here is that the Bollinger band expands with sudden increase in volume as price saw an uptrend indicating a strong buying 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)ethereumforecastethereumpriceETHUSDTechnical IndicatorsOscillatorsTrend Analysis

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