ETHUSD to see a downtrend(4Hr) | Potential head and shoulder

Market in last 24hrs

• ETHUSD saw a downtrend with the price getting midline resistance reaching the lower band
  
• Price volatility was very high. The market moved ~4.89% between $394 and $375.61
  

Today’s Trend analysis

• ETHUSD expected to see a downtrend as potential head and shoulder pattern observed, followed by a breakout expected
  
• Price at the time of publishing: $378.93
  
• ETH’s market cap: $42.96 Billion
  
• Oscillator indicators are mostly neutral. RSI at 35
  
• Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  
• Volume indicators observed a relatively high value for blue candles while a low value for red candles
  

Price expected to see a downtrend as potential head and shoulder pattern observed, followed by a breakout expected. Most of the Oscillator indicators are neutral. MACD line moving below the signal line, with the histogram size increasing in the negative region suggesting bearish bias. RSI at 35, in the neutral region below the midline. CCI with a value of around -136 in the oversold region indicating an uptrend. Another interesting point to notice here is that the volume observed a relatively high value for blue candles while a low value for red candles
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The analysis is based on signals from 28 technical indicators, out of which 17 are moving averages and remaining 11 are oscillators. These indicator values are calculated using 4Hr 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