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ETHUSD to move sideways(4hr) | Midline support with bullish MACD

COINBASE:ETHUSD   Ethereum / U.S. Dollar
Market in last 24hrs
  • ETHUSD saw a decline with midline support to consolidate
  • Price volatility was very high. The market moved ~6.06% between $358.12 and $337.63.55
Today’s Trend analysis
  • ETHUSD expected to see a decline and get support from midline to consolidate as the price got rejected from upper band with Bollinger band expansion
  • Price at time of publishing: $350.80
  • ETH’s market cap: $39.64 Billion
  • Oscillator indicators are mostly neutral. RSI at 55
  • Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  • Volume indicators saw an increase in value as the price increased followed by a decrease in value as price decreased indicating a strengthened buying pressure
Price expected to see a decline and get support from midline to consolidate as the price got rejected from upper band with Bollinger band expansion. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size decreasing in positive region suggesting bullish bias. RSI at 55, in the neutral region above midline. CCI with a value of around 102 in the oversold region indicating an uptrend. Another interesting point to notice here is that the volume observed an increase in value as the price increased followed by a decrease in value as price decreased indicating a strengthened buying 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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Comments

amazing work! What do you think about my analysis?
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Mudrex Nibiru7
@Nibiru7, Thanks! DO you think that resistance will act as resistance?
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Very helpful! Thanks a lot!
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Mudrex PolarHusk
@PolarHusk, Thanks for your appreciation!
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good job
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Mudrex T_V_TreeTrader
@T_V_TreeTrader, Thank you
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Fantastic insights, thank you for the effort
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Mudrex Cryptograf
@Cryptograf, Great, would love to hear more from you!
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👏🏻👏🏻👏🏻
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Mudrex georgeicon6
@georgeicon6, Thanks!
Reply
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