ETHUSD to see consolidation(4hr)| Price in the parallel channel

Market in last 24hrs
-ETHUSD saw a downwards movement getting support from $369
-Price volatility was high. The market moved ~8.21%, between $399.7 and $369.3
Today’s Trend analysis
-ETHUSD expected to see an uptrend as the price is trading between the parallel channel
-Price at time of publishing: $383
-ETH’s market cap: $42.9 Billion
-Oscillator indicators are mostly neutral. RSI at 38
-Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
-Volume indicators observed an increase in volume with red candles observed and decreased further with blue candles

Price expected to see an uptrend as the price is trading between the parallel channel. Most of the Oscillator indicators are neutral. MACD line below the signal line, histogram size in the negative direction. RSI at 38, below to the midline in the neutral region. CCI with a value of around -113 in the overbought region, suggesting a downtrend. Another interesting point to notice here is that the volume observed an increase in volume with red candles observed and decreased further with blue candles suggesting a strengthen 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)ethereumforecastETHUSDTechnical IndicatorsOscillatorsTrend Analysis

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