ETHUSD to see an uptrend(4Hr) | Gap up expected | MACD Bullish

Market in last 24hrs

• ETHUSD saw a slight uptrend with price started to ride the upper band
  
• Price volatility was very high. The market moved ~10.69% between $593.74 and $536.38
  

Today’s Trend analysis

• ETHUSD expected to see an uptrend with the price riding the upper band with gap up in price expected with Bollinger band expanding
  
• Price at the time of publishing: $586.16
  
• ETH’s market cap: $66.6 Billion
  
• Oscillator indicators are mostly neutral. RSI at 65
  
• Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  
• Volume indicators observed a change from decreasing with an increase in price to an increase in volume with an increase in price
  

Price expected to see an uptrend with the price riding the upper band with gap up in price expected with Bollinger band expanding. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size increasing in the positive region suggesting bullish bias. RSI at 65, in the neutral region above the midline. CCI with a value of around 147 in the overbought region. Another interesting point to notice here is that the volume observed a change from decreasing with an increase in price to an increase in volume with an increase in price indicating a shift from sellers to buyers.
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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 4Hr candles.

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

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- Mudrex