ETH still hounded- should you bother..? | huge dip in supply
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Quick glance: As of now, ETHUSD seems to be under some selling pressure. The same can be witnessed in Bitcoin and other Altcoins as well.
In our previous analysis on ETHUSD, we had correctly predicted this short term consolidation for Ether.
Market in the last 24hrs
ETH has been struggling to maintain its ground around the $2000 mark. Traded volumes on the hourly timeframe are near the MA of the volume.
Today’s Trend analysis
The traded volumes on the hourly timeframe are pretty close to the Moving Average oof the volume. It suggests that the momentum in ETH is not exactly one-sided right now.
Santiment recently tweeted out the data regarding the massive decrease in supply of ETH across exchanges. It is a huge bullish sign for the long term HODLers.
Price volatility remained high at approximately 6%, with the day's range between $2017.70 — $2137.74.
Price at the time of publishing: $2028.92
ETH's market cap: $237.34 Billion
Out of 11 Oscillator indicators, 9 are neutral, and 2 are bearish.
Out of 15 Moving average indicators, 1 is 'NEUTRAL', 13 are bearish and 1 is bullish.
Indicator summary is giving a 'SELL' signal on ETHUSD .
Volumes have remained constant 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 4Hr candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
----------------------------------------------------------------------------------------
Keep supporting:)
-Mudrex
Quick glance: As of now, ETHUSD seems to be under some selling pressure. The same can be witnessed in Bitcoin and other Altcoins as well.
In our previous analysis on ETHUSD, we had correctly predicted this short term consolidation for Ether.
Market in the last 24hrs
ETH has been struggling to maintain its ground around the $2000 mark. Traded volumes on the hourly timeframe are near the MA of the volume.
Today’s Trend analysis
The traded volumes on the hourly timeframe are pretty close to the Moving Average oof the volume. It suggests that the momentum in ETH is not exactly one-sided right now.
Santiment recently tweeted out the data regarding the massive decrease in supply of ETH across exchanges. It is a huge bullish sign for the long term HODLers.
Price volatility remained high at approximately 6%, with the day's range between $2017.70 — $2137.74.
Price at the time of publishing: $2028.92
ETH's market cap: $237.34 Billion
Out of 11 Oscillator indicators, 9 are neutral, and 2 are bearish.
Out of 15 Moving average indicators, 1 is 'NEUTRAL', 13 are bearish and 1 is bullish.
Indicator summary is giving a 'SELL' signal on ETHUSD .
Volumes have remained constant 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 4Hr 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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