ETH to see an uptrend(1D) | Midline resistance break expected

Market in last 1 week

• ETHUSD saw a rejection from midline followed by consolidation with support from lower band
  
• Price volatility was very high. The market moved ~23.1%, between $385.31 and $313
  

Today’s Trend analysis

• ETHUSD expected to see an uptrend as the price is trading inside the bands and is expected to break the midline after getting support from lower band
  
• Price at time of publishing: $359.93
  
• ETH’s market cap: $40 Billion
  
• Oscillator indicators are mostly neutral. RSI at 48
  
• Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
  
• Volume indicators saw an increase in volume as price decreased followed by decrease in volume with price increase
  

Price expected to see an uptrend as the price is trading inside the bands and is expected to break the midline after getting support from lower band. Most of the Oscillator indicators are neutral. MACD line approaching signal line from below with histogram size decreasing in the negative direction suggesting bearish bias. RSI at 48, below the midline still in the neutral region. CCI is around -12, in the neutral region with an upmove from oversold region. Another interesting point to notice here is that volume saw an increase in volume as price decreased followed by decrease in volume with price increase weak buying pressure.

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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 1D candles.

DM to get details of the above analysis and list of indicators & their values used to arrive at the above conclusion.

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

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- Mudrex