Potential 7% up move in sight for ETHUSD| 4H analysis
Quick glance: In our previous analysis on ETHUSD , we discussed about the crucial phase for ETHUSD. Right now, it is moving in a descending channel and there seems to be very little resistance till $2600.
Market in the last 24hrs
The last 24 hours were quite a roller coaster ride. All the major cryptos witnessed a sell-off and then bounced back.
Today’s Trend analysis
ETHUSD seems to be moving in a descending channel. The lower band of BB and the trend line support pushed ETH higher. In case we do not witness another crazy sell-off in the market, the $2600 level looks achievable pretty soon.
Price volatility remained moderate at approximately 4%, with the day's range between $2359.22 — $2461.51.
Price at the time of publishing: $2426.76
ETH's market cap: $282.44 Billion
Volumes have remained low in the past 24 hours and on a decreasing trend.
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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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Any feedback and suggestions would help in further improving the analysis! If you find the analysis useful, please like and share our ideas with the community. Keep supporting :)
Market in the last 24hrs
The last 24 hours were quite a roller coaster ride. All the major cryptos witnessed a sell-off and then bounced back.
Today’s Trend analysis
ETHUSD seems to be moving in a descending channel. The lower band of BB and the trend line support pushed ETH higher. In case we do not witness another crazy sell-off in the market, the $2600 level looks achievable pretty soon.
Price volatility remained moderate at approximately 4%, with the day's range between $2359.22 — $2461.51.
Price at the time of publishing: $2426.76
ETH's market cap: $282.44 Billion
- Out of 11 Oscillator indicators, 9 are neutral, and 1 is bearish , and 1 is giving a bullish signal.
- Out of 15 Moving average indicators, 13 are bearish, and only 1 is bullish.
- Indicator summary is bearish for ETHUSD for the shorter timeframe.
Volumes have remained low in the past 24 hours and on a decreasing trend.
----------------------------------------------------------------------------------------
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 .
----------------------------------------------------------------------------------------
Any feedback and suggestions would help in further improving the analysis! If you find the analysis useful, please like and share our ideas with the community. Keep supporting :)
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