ETHUSD to see a potential breakout(4hr) | Double Bottom observed
Market in last 24hrs
-ETHUSD saw an uptrend and broke the upper band
-Price volatility was very high. The market moved ~14.89%, between $432 and $376
Today’s Trend analysis
-ETHUSD expected to see a breakout as double bottoms observed
-Price at time of publishing: $423
-ETH’s market cap: $48.2 Billion
-Oscillator indicators are mostly neutral. RSI at 72
-Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
-Volume indicators saw a spike as the price moved out of the Bollinger band and suggested a breakout
Price expected to see a breakout as double bottoms were observed along with rouding bottoms in the indicators like RSI. Most of the Oscillator indicators are neutral. MACD line crossed above the signal line, histogram size increasing in the positive direction. RSI at 72, in the overbought region suggesting a bullish bias. CCI in the overbought region with a value of around 207 indicating a trend reversal. Another interesting point to notice here is that there was a spike in volume as the price breakout the double bottom resistance also the Bollinger Band expansion is observed.
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 1 D 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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If you find the analysis useful, please like and share our ideas with the community!
- Mudrex
-ETHUSD saw an uptrend and broke the upper band
-Price volatility was very high. The market moved ~14.89%, between $432 and $376
Today’s Trend analysis
-ETHUSD expected to see a breakout as double bottoms observed
-Price at time of publishing: $423
-ETH’s market cap: $48.2 Billion
-Oscillator indicators are mostly neutral. RSI at 72
-Moving average indicators are biased towards an uptrend. Ichimoku Cloud is neutral
-Volume indicators saw a spike as the price moved out of the Bollinger band and suggested a breakout
Price expected to see a breakout as double bottoms were observed along with rouding bottoms in the indicators like RSI. Most of the Oscillator indicators are neutral. MACD line crossed above the signal line, histogram size increasing in the positive direction. RSI at 72, in the overbought region suggesting a bullish bias. CCI in the overbought region with a value of around 207 indicating a trend reversal. Another interesting point to notice here is that there was a spike in volume as the price breakout the double bottom resistance also the Bollinger Band expansion is observed.
----------------------------------------------------------------------------------------
The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and the remaining 11 are oscillators. These indicator values are calculated using 1 D 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 .
----------------------------------------------------------------------------------------
If you find the analysis useful, please like and share our ideas with the community!
- Mudrex
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