ETHUSD to fall and consolidate(4hr)! | Price in parallel channel
Market in last 24hrs
- ETHUSD saw an uptrend with the price reaching the midline band
- Price volatility was high. The market moved ~6.7%, between 360.61 and $337.79
- ETHUSD expected to see a slight uptrend after the price gets support from the lower band as the price trading inside the channel
- Price at time of publishing: $346
- ETH’s market cap: $38.9 Billion
- Oscillator indicators are mostly neutral. RSI at 37
- Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
- Volume indicators observed a decrease as the price increases while saw a spike at the highest price
Price expected to see a slight uptrend after the price gets support from the lower band as the price trading inside the channel. Most of the Oscillator indicators are neutral. MACD line crossed above the signal line, with histogram size increasing in positive direction. RSI at 37, in the neutral region below the midline. CCI with a value of around -57 in the neutral region. Another interesting point to notice here is that the volume observed a decrease as the price increases while saw a spike at the highest price indicating a shift from buyers to sellers.
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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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