ETHUSD 4H timeframe | Bearish buildup
Updated
Market in last 24hrs
ETHUSD broke the support of the Bollinger Bands midline. Historically, in the short timeframe of 4H, ETHUSD has respected the midline.
Today’s Trend analysis
ETHUSD could continue its bearish momentum, and move further downwards towards the lower band of the Bollinger Bands.
Price volatility remained high at approximately 6%, with the day's range between $2559.18 — $2762.91.
Price at the time of publishing: $2580.63
ETH's market cap: $310.94 Billion
Indicator summary signals bearish momentum.
Out of 15 Moving average indicators, 12 are giving a SELL signal.
ETHUSD could be expected to oscillate between the lower band of Bollinger Bands and the resistance at midline. MACD line has given a downward crossover. RSI has furiously descended to 50. Further downward momentum below 40 gives a 'SELL' trigger.
Volumes have remained low in the past 24 hours.
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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 true if we do not encounter a sudden jump in trade volume .
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Feel free to provide your feedback. It would allow me to improve my analysis further!
ETHUSD broke the support of the Bollinger Bands midline. Historically, in the short timeframe of 4H, ETHUSD has respected the midline.
Today’s Trend analysis
ETHUSD could continue its bearish momentum, and move further downwards towards the lower band of the Bollinger Bands.
Price volatility remained high at approximately 6%, with the day's range between $2559.18 — $2762.91.
Price at the time of publishing: $2580.63
ETH's market cap: $310.94 Billion
Indicator summary signals bearish momentum.
Out of 15 Moving average indicators, 12 are giving a SELL signal.
ETHUSD could be expected to oscillate between the lower band of Bollinger Bands and the resistance at midline. MACD line has given a downward crossover. RSI has furiously descended to 50. Further downward momentum below 40 gives a 'SELL' trigger.
Volumes have remained low in the past 24 hours.
----------------------------------------------------------------------------------------
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 true if we do not encounter a sudden jump in trade volume .
----------------------------------------------------------------------------------------
Feel free to provide your feedback. It would allow me to improve my analysis further!
Note
Glad to see the movement happened exactly as defined in the charts. P.S.: this trading idea is not to predict the future movement, but to understand the correct usage of the charts and the technical indicators. Cheers:)
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