ETHUSD to see a downtrend further4hr)| Lower highs observed

Market in last 24hrs

• ETHUSD saw a downtrend and had broken the midline Bollinger band
  
• Price volatility was very high. The market moved ~12.2%, between $472.08.00 and $420.58
  

Today’s Trend analysis

• ETHUSD expected to see a downtrend as lower highs were observed along with squeeze in Bollinger band
  
• Price at time of publishing: $423
  
• ETH’s market cap: $48 Billion
  
• Oscillator indicators are mostly neutral. RSI at 42
  
• Moving average indicators are suggesting a downtrend. Ichimoku Cloud is neutral
  
• Volume indicators observed a decrease except a spike with blue candle and an increase in 20-candle moving average
  

Price expected to see a downtrend as lower highs were observed along with squeeze in Bollinger band. Most of the Oscillator indicators are neutral. MACD line moving below the signal line, with histogram size decreasing in negative direction. RSI at 42, in the neutral region below the midline. CCI with a value of around -78 in the neutral region with a down move. Another interesting point to notice here is that the volume saw a decrease except a spike was observed for a blue candle suggesting 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 the remaining 11 are oscillators. These indicator values are calculated using 4 Hr 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