ETHUSD to see continued downtrend(4Hr) | Upper band resistance

Market in last 24hrs

• ETHUSD saw a downtrend after the price observed a rejection from the upper band
  
• Price volatility was very high. The market moved ~8.58% between $495.68 and $456.50
  

Today’s Trend analysis

• ETHUSD expected to see a continued downtrend as the price has declined after getting resistance with Bollinger band squeeze
  
• Price at the time of publishing: $472.69
  
• ETH’s market cap: $53.64 Billion
  
• Oscillator indicators are mostly neutral. RSI at 53
  
• Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  
• Volume indicators observed a decline in volume as the price saw a decline in recent candles
  

Price expected to see a continued downtrend as the price has declined after getting resistance with Bollinger band squeeze. Most of the Oscillator indicators are neutral. MACD line crossed below the signal line, with the histogram moved from positive to the negative region suggesting bearish bias. RSI at 53, in the neutral region above the midline. CCI with a value of around 26 in the neutral region with a pullback from overbought. Another interesting point to notice here is that the volume observed a decline in volume as the price saw a decline in recent candles indicating a weakening 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 4Hr candles.

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

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- Mudrex