ETHUSD to see a downtrend(4Hr) | Midline Resistance Reached

Market in last 24hrs

• ETHUSD saw a sideways movement with consolidation in price to reach the midline resistance and fall
  
• Price volatility was very high. The market moved ~5.48% between $411.77 and $390.35
  

Today’s Trend analysis

• ETHUSD expected to see a downtrend after the price saw midline support and started to decline with the Bollinger band squeeze
  
• Price at the time of publishing: $396.45
  
• ETH’s market cap: $44.87 Billion
  
• Oscillator indicators are mostly neutral. RSI at 44
  
• Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  
• Volume indicators observed an increase with price increase while volume decrease with the price decline
  

Price expected to see a downtrend after the price saw midline support and started to decline with the Bollinger band squeeze. Most of the Oscillator indicators are neutral. MACD line crossed below the signal line, with the histogram in the negative region suggesting bearish bias. RSI at 44, in the neutral region below the midline. CCI with a value of around -56 in the neutral region with a down move. Another interesting point to notice here is that the volume observed an increase with price increase while volume decrease with the price decline indicating a strong 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