Short term trend for ETH| Potential to rise 7% from current pp
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Quick glance:
ETH has faced resistance around $2163 multiple times. As and when price rose above this level, it has acted as a strong support as well. It is a sturdy level which is currently acting as a resistance. Similarly, the strong support is at $1864, from where the price rebounded lately.
Market in the last 24hrs
ETH had a roller coaster ride, after dropping almost 6% and then taking support and shooting back up over the $2000 level. Traded volumes have remained moderate.
Today’s Trend analysis
ETH has been in this narrowing channel pattern for some time. $2100 is within striking distance for ETH. A quick 7% gain from the current price point is achievable. MACD line has given an upward crossover with the signal line. It is a bullish signal. Although the MACD is a lag indicator, combining the MACD with the price action gives an affirmation that the price could move towards the $2100 mark shortly.
Price volatility remained extremely high at approximately 8.6%, with the day's range between $1865.01 — $2020.06.
Price at the time of publishing: $2007.07
ETH's market cap: $234.34 Billion
Volumes have gone up in the past 24 hours.
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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 24 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:
ETH has faced resistance around $2163 multiple times. As and when price rose above this level, it has acted as a strong support as well. It is a sturdy level which is currently acting as a resistance. Similarly, the strong support is at $1864, from where the price rebounded lately.
Market in the last 24hrs
ETH had a roller coaster ride, after dropping almost 6% and then taking support and shooting back up over the $2000 level. Traded volumes have remained moderate.
Today’s Trend analysis
ETH has been in this narrowing channel pattern for some time. $2100 is within striking distance for ETH. A quick 7% gain from the current price point is achievable. MACD line has given an upward crossover with the signal line. It is a bullish signal. Although the MACD is a lag indicator, combining the MACD with the price action gives an affirmation that the price could move towards the $2100 mark shortly.
Price volatility remained extremely high at approximately 8.6%, with the day's range between $1865.01 — $2020.06.
Price at the time of publishing: $2007.07
ETH's market cap: $234.34 Billion
- Out of 11 Oscillator indicators, 9 are neutral, 1 is bearish and 1 is bullish .
- Out of 15 Moving average indicators, 1 is 'NEUTRAL', 11 are bearish and 3 are bullish.
- Indicator summary is giving a 'SELL' signal on ETHUSD.
Volumes have gone up in the past 24 hours.
----------------------------------------------------------------------------------------
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 24 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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