ETHUSD to see sideways movement(4Hr) | Expect midline resistance

Market in last 24hrs

• ETHUSD saw a downtrend followed by consolidation after lower band support
  
• Price volatility was very high. The market moved ~7.11% between $409.41 and $382.21
  

Today’s Trend analysis

• ETHUSD expected to see a sideways movement as the price consolidated after getting lower band support, expected to increase and see the midline resistance
  
• Price at the time of publishing: $396.11
  
• ETH’s market cap: $44.87 Billion
  
• Oscillator indicators are mostly neutral. RSI at 42
  
• Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  
• Volume indicators observed a change from volume increase with price decline to volume increase with the price increase
  

Price expected to see a sideways movement as the price consolidated after getting lower band support, expected to increase and see the midline resistance. Most of the Oscillator indicators are neutral. MACD line approaching from below the signal line, with the histogram size decreasing in negative region suggesting bearish bias. RSI at 42, in the neutral region below the midline. CCI with a value of around -88 in the neutral region with an up move from the oversold region. Another interesting point to notice here is that the Bollinger band expansion takes place and the volume observed a change from volume increase with price decline to volume increase with price increase 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 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