EOSUSD expected to see a downtrend(1D) | MACD suggesting bearish

Market in last 1 week

• EOSUSD consolidated after getting support from the lower Bollinger band
  
• Price volatility was very high. The market moved ~10.44%, between $2.93 and $2.66
  

Today’s Trend analysis

• EOSUSD expected to see a slight downtrend as the price is trading between the midline and lower band with Bollinger band inclining downwards and lower highs observed
  
• Price at time of publishing: $2.749
  
• EOS’s market cap: $2.59 Billion
  
• Oscillator indicators are mostly neutral. RSI at 42
  
• Moving average indicators are biased towards a downtrend. Ichimoku Cloud is neutral and Hull Moving Average indiacting a buying opportunity
  
• Volume indicators saw a decrease in recent candles with a spike for a red candle, with the traded volume decreasing from 873k to 169k being below the 20-candle moving average which saw a decrease
  

Price expected to see a slight downtrend as the price is trading between the midline and lower band with Bollinger band inclining downwards and lower highs observed. Most of the Oscillator indicators are neutral. MACD line approaching from below the signal line with histogram size decreasing in the negative region, suggesting bearish bias. RSI at 42, in the neutral region below the midline. CCI is around -76, in the neutral region. Another interesting point to notice here is that the volume indicators saw a decrease in recent candles with a spike for a red candle indicating a strong selling pressure.
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 1 D candles.

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

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

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- Mudrex