ETHUSD to move sideways(4hr)! | Potential Gap Down as BB expands

Market in last 24hrs

• ETHUSD saw a downtrend with the price riding the lower band
  
• Price volatility was very high. The market moved ~13.43% between $375.47 and $331
  

Today’s Trend analysis

• ETHUSD expected to see a sideways movement as the price after riding the lower band got support with Bollinger band expansion
  
• Price at time of publishing: $340.76
  
• ETH’s market cap: $38.6 Billion
  
• Oscillator indicators are mostly neutral. RSI at 30
  
• Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  
• Volume indicators observed an increase as the price decreased and saw a decrease as the price moved sideways
  

Price expected to see a sideways movement as the price after riding the lower band got support with Bollinger band expansion. Most of the Oscillator indicators are neutral. MACD line approaching the signal line from below, with the histogram size decreasing in negative region suggesting bearish bias. RSI at 30, in the neutral region close to oversold. CCI with a value of around -116 in the oversold region indicating an uptrend. Another interesting point to notice here is that the volume observed an increase as the price decreased and saw a decrease as the price moved sideways to indicate a strengthening 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.

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 .

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- Mudrex