ETHUSD saw a sideways movement with price declining to reach lower band support and consolidate
Price volatility was very high. The market moved ~7.05% between $407.33 and $380.50
Today’s Trend analysis
ETHUSD expected to see a sideways movement as the price is trading inside the bands and expected to consolidate to reach the midline resistance and decline thereafter
Price at the time of publishing: $388.15
ETH’s market cap: $44.11 Billion
Oscillator indicators are mostly neutral. RSI at 42
Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
Volume indicators observed an increase with price decline while volume decrease with an increase in price
Price expected to see a sideways movement as the price is trading inside the bands and expected to consolidate to reach the midline resistance and decline thereafter. Most of the Oscillator indicators are neutral. MACD line approaching from below the signal line, with the histogram size decreasing in the negative region suggesting bearish bias. RSI at 42, in the neutral region below the midline. CCI with a value of around -60 in the neutral region. Another interesting point to notice here is that the volume observed an increase with price decline while volume decrease with an increase in price indicating strong selling pressure. ----------------------------------------------------------------------------------------
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 4Hr 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 .