ETHUSD to see a downtrend(4hr)| Rejection from upper band

Market in last 24hrs

-ETHUSD saw a an upwards movement rejecting from $412
-Price volatility was high. The market moved ~5.1%, between $412 and $392

Today’s Trend analysis

-ETHUSD expected to see a downtrend as the price rejected from upper band with the Bollinger band squeeze
-Price at time of publishing: $395
-ETH’s market cap: $44.5 Billion
-Oscillator indicators are mostly neutral. RSI at 45
-Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
-Volume indicators observed a decrease in volume with a spike with price hitting maximum in last few candles

Price expected to see a downtrend as the price rejected from upper band with the Bollinger band squeeze. Most of the Oscillator indicators are neutral. MACD line above the signal line, histogram size decreasing in the positive direction. RSI at 45, below to the midline in the neutral region. CCI with a value of around 9 in the neutral region with a down move, after pull back from overbought region. Another interesting point to notice here is that the volume saw a decrease in the recent candles with a spike with the price reaching high suggesting a strong selling pressure.

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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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- Mudrex
Ethereum (Cryptocurrency)ethereumforecastethereumpriceETHUSDTechnical IndicatorsOscillatorsTrend Analysis

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