ETHUSD to see a slight downtrend(4Hr) | Bearish MACD

Market in last 24hrs

• ETHUSD saw a downtrend followed touching the lower band and moving sideways
  
• Price volatility was high. The market moved ~3.71% between $417.86 and $402.92
  

Today’s Trend analysis

• ETHUSD expected to see a downtrend as the price has been riding the lower Bollinger band and the band has been moving down
  
• Price at the time of publishing: $406.20
  
• ETH’s market cap: $45.96 Billion
  
• Oscillator indicators are mostly neutral. RSI at 50
  
• Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  
• Volume indicators observed an increase in volume with a price decline with the volume being below the 20-candle moving average
  

Price expected to see a downtrend as the price has been riding the lower Bollinger band and the band has been moving down. Most of the Oscillator indicators are neutral. MACD line moving below the signal line, with the histogram size decreasing in negative region suggesting bearish bias. RSI at 50, in the neutral region close to the midline. CCI with a value of around -129 in the oversold region indicating an uptrend. Another interesting point to notice here is that the volume observed an increase in volume with a price decline with the volume being below the 20-candle moving average indicating strong 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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