Bullish signs for medium term | DCA good approach going forward
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Quick glance: After the recent recovery following the previous selloff, the crypto blue chips, Bitcoin and Ethereum, are looking strong. ETH looks solid with healthy trading volumes.
Top cryptos have bounced back a bit into green following the news of the Russian government deciding to regulate cryptos rather than banning them. The next support for ETH lies at around $3600.
Market in the last 24hrs
The last 24 hours witnessed a modest up move across the crypto spectrum. Although traded volumes dropped with traders being in the caution mode, the market managed to retain its support.
Today’s Trend analysis
ETH has recently broken out of a consolidation and started to move higher. With the traded volumes remaining fairly high, the largest altcoin recently had a golden crossover. On the daily timeframe, it seems that ETH has the potential to touch the $3600 mark.
However, the latest candle seems to be forming a Doji. If that happens, we need to wait for one more day to check the next candle before making an entry. Doji at the end of a rising trend could invalidate the bull run and take a reversal.
Therefore, the best option right now is to DCA on Ether.
Price volatility remained moderate at approximately 4.08%, with the day's range between $3155.81 — $3284.75
Price at the time of publishing: $3244.80
ETH's market cap: $387.56 Billion
Volumes have remained consistently high over the past few days.
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The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4 hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
Quick glance: After the recent recovery following the previous selloff, the crypto blue chips, Bitcoin and Ethereum, are looking strong. ETH looks solid with healthy trading volumes.
Top cryptos have bounced back a bit into green following the news of the Russian government deciding to regulate cryptos rather than banning them. The next support for ETH lies at around $3600.
Market in the last 24hrs
The last 24 hours witnessed a modest up move across the crypto spectrum. Although traded volumes dropped with traders being in the caution mode, the market managed to retain its support.
Today’s Trend analysis
ETH has recently broken out of a consolidation and started to move higher. With the traded volumes remaining fairly high, the largest altcoin recently had a golden crossover. On the daily timeframe, it seems that ETH has the potential to touch the $3600 mark.
However, the latest candle seems to be forming a Doji. If that happens, we need to wait for one more day to check the next candle before making an entry. Doji at the end of a rising trend could invalidate the bull run and take a reversal.
Therefore, the best option right now is to DCA on Ether.
Price volatility remained moderate at approximately 4.08%, with the day's range between $3155.81 — $3284.75
Price at the time of publishing: $3244.80
ETH's market cap: $387.56 Billion
- Out of 11 Oscillator indicators, 6 are neutral, 3 are bearish and 2 are bullish.
- Out of 15 Moving average indicators, 1 is 'NEUTRAL', 5 are bearish and 9 are bullish .
- Indicator summary is giving a NEUTRAL signal on ETHUSD .
Volumes have remained consistently high over the past few days.
----------------------------------------------------------------------------------------
The analysis is based on signals from 26 technical indicators, out of which 15 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 4 hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
----------------------------------------------------------------------------------------
Keep supporting:)
-Mudrex
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