ETHUSD to see an uptrend(4Hr) | Weak selling pressure

Market in last 24hrs

• ETHUSD saw a slight rejection from the upper band after reaching a month high
  
• Price volatility was high. The market moved ~7.5% between $421.47 and $392.06
  

Today’s Trend analysis

• ETHUSD expected to see an uptrend as the price after getting a rejection from the upper band move sideways with higher lows observed with Bollinger band expansion
  
• Price at the time of publishing: $414.10
  
• ETH’s market cap: $46.75 Billion
  
• Oscillator indicators are mostly neutral. RSI at 74
  
• Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  
• Volume indicators observed an increase in volume with a price increase while a decrease in volume with the price decline
  

Price expected to see an uptrend as the price after getting a rejection from the upper band moved sideways with higher lows observed 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 74, in the overbought region indicating a downtrend soon. CCI with a value of around 98 in the neutral region. Another interesting point to notice here is that the volume observed an increase in volume with a price increase while a decrease in volume with the price decline indicating weak 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