ETHUSD(4Hr) : ETH bouncing between 2 major trend lines with low
Market in the last 24hrs
ETHUSD saw a consolidated movement with a slight indication of bearish momentum in the last 24 hours. The price has been moving in between the middle and bottom Bollinger bands. Trading volume has been moderate and the volume can be seen increasing with a decrease in price suggesting a bearish momentum of the price getting stronger.
Today’s Trend analysis
Price touched the bottom Bollinger band which usually acts as a strong support line. The price is likely to continue to oscillate between the bottom and the middle Bollinger band until it rejects either the middle band as a resistance line or the bottom band as a support line.
Price volatility was low at approximately 1.75%, with the day's range between $1854— $1960.
Price at the time of publishing: $1865
ETH's market cap: $219.22 Billion
However, the Indicator summary is giving a 'SELL' signal on ETHUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 7 are neutral and 2 are giving a BUY signal.
Out of 15 Moving average indicators, 14 are giving a SELL signal, 1 is neutral and 0 are giving a BUY signal.
Trading volume has been moderate and the volume can be seen increasing with a decrease in price suggesting a bearish momentum of the price getting stronger.
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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 if we do not encounter a sudden jump in trade volume.
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Any feedback and suggestions would help in further improving the analysis!
ETHUSD saw a consolidated movement with a slight indication of bearish momentum in the last 24 hours. The price has been moving in between the middle and bottom Bollinger bands. Trading volume has been moderate and the volume can be seen increasing with a decrease in price suggesting a bearish momentum of the price getting stronger.
Today’s Trend analysis
Price touched the bottom Bollinger band which usually acts as a strong support line. The price is likely to continue to oscillate between the bottom and the middle Bollinger band until it rejects either the middle band as a resistance line or the bottom band as a support line.
Price volatility was low at approximately 1.75%, with the day's range between $1854— $1960.
Price at the time of publishing: $1865
ETH's market cap: $219.22 Billion
However, the Indicator summary is giving a 'SELL' signal on ETHUSD.
Out of 11 Oscillator indicators, 2 are giving a SELL signal, 7 are neutral and 2 are giving a BUY signal.
Out of 15 Moving average indicators, 14 are giving a SELL signal, 1 is neutral and 0 are giving a BUY signal.
Trading volume has been moderate and the volume can be seen increasing with a decrease in price suggesting a bearish momentum of the price getting stronger.
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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 if we do not encounter a sudden jump in trade volume.
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Any feedback and suggestions would help in further improving the analysis!
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