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Anticipation of EIP 1559|Hold on before entering a trade now

BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
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Quick glance: ETH had one red candle after 13 successive green candles. The largest Altcoin by market cap is doing much better than BTC . The EIP 1559, also referred by some as the London hard fork is set to be live from 04th August.


Market in the last 24hrs
ETH declined marginally and is hovering just above $2500.

Today’s Trend analysis
ETH is already above the 50 day and the 100 day Moving Average levels. The 100-day MA is, in fact, acting as a strong support now. Although we are having a red candle now, it is important to wait for the confirmation candle, as fake bear traps are pretty common. Overall, ETH still seems to have some steam left to it. The recent high is almost 15% from current price points.

Price volatility remained high at approximately 4.2%, with the day's range between $2524.30 — $2630.02

Price at the time of publishing: $2527.00
ETH's market cap: $296.34 Billion

  • Out of 11 Oscillator indicators, 7 are neutral, 3 are bearish and 1 is bullish .

  • Out of 15 Moving average indicators, 1 is 'NEUTRAL', 2 are bearish and 12 are bullish .

  • Indicator summary is giving a BUY signal on ETHUSD .
Volumes have increased in the past 24 hours.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 24 hour candles.

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

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