ETHUSD to consolidate(4hr)! | Trade inside band with higher high

25 Sep 2020

Market in last 24hrs

• ETHUSD saw an uptrend followed by rejection from upper band
  
• Price volatility was very high. The market moved ~9.14% between $353.14 and $323.55
  

Today’s Trend analysis

• ETHUSD expected to see a decline and get support from midline to consolidate as the price got rejected from upper band with higher highs being observed
  
• Price at time of publishing: $343.08
  
• ETH’s market cap: $38.7 Billion
  
• Oscillator indicators are mostly neutral. RSI at 48
  
• Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  
• Volume indicators saw an increase in value as the price increased followed by a decrease in value as price decreased indicating a strengthened buying pressure
  
  Price expected to see a decline and get support from midline to consolidate as the price got rejected from upper band with higher highs being observed. Most of the Oscillator indicators are neutral. MACD line moving above the signal line, with the histogram size decreasing in positive region suggesting bullish bias. RSI at 48, in the neutral region below midline. CCI with a value of around 59 in the neutral region with a pullback from overbought region. Another interesting point to notice here is that the volume observed an increase in value as the price increased followed by a decrease in value as price decreased indicating a strengthened buying pressure.
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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