ETH to see a sideways movement(4Hr) | Price trading inside bands

Market in last 24hrs

• ETHUSD saw an uptrend followed by upper band rejection from $379.9
  
• Price volatility was high. The market moved ~3.15% between $379.94 and $368.31
  

Today’s Trend analysis

• ETHUSD expected to see a sideways movement as the price is trading inside the bands with upper band resistance, price to touch midline support and consolidate further
  
• Price at the time of publishing: $374.86
  
• ETH’s market cap: $42.41 Billion
  
• Oscillator indicators are mostly neutral. RSI at 54
  
• Moving average indicators are suggesting an uptrend. Ichimoku Cloud is neutral
  
• Volume indicators observed an increase in volume with price increase while a decrease in volume with price decline
  

Price expected to see a sideways movement as the price is trading inside the bands with upper band resistance, price to touch midline support, and consolidate further. 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 54, in the neutral region above the midline. CCI with a value of around 78 in the neutral region. Another interesting point to notice here is that the volume observed an increase in volume with price increase while a decrease in volume with price decline suggesting 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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- Mudrex