ETHUSD(1D): ETHUSD daily touching a major support lines
Market in the last 1 week
The price saw a major downward trend as it moved from the upper to the lower Bollinger band. The rice reached another support trend line. Trading volume has been very high in the last 1 week. The volume can be seen increasing with an increase in price suggesting that the bearish momentum is strong and most likely will continue until we see a drop in the daily trading volume.
Next Week's Trend analysis
The price is expected to move in the overall bullish momentum as the current price is near 2 major support lines. If the price rejects the support lines then we will continue to see a major downtrend.
The price change was high at approximately17.2 %, with the week's range between $4144 — $4860.
Price at the time of publishing: $4308
ETH’s market cap: $510 Billion
However, the Indicator summary is giving a 'SELL' signal on ETHUSD.
Out of 11 Oscillator indicators, 3 are giving a SELL signal, 8 are neutral and 0 are giving a BUY signal.
Out of 15 Moving average indicators, 8 are giving SELL signal, 1 is giving neutral and 6 are giving a BUY signal.
Traded volume has remained high in the past week. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
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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 1 Day candles.
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Any feedback and suggestions would help in further improving the analysis!
The price saw a major downward trend as it moved from the upper to the lower Bollinger band. The rice reached another support trend line. Trading volume has been very high in the last 1 week. The volume can be seen increasing with an increase in price suggesting that the bearish momentum is strong and most likely will continue until we see a drop in the daily trading volume.
Next Week's Trend analysis
The price is expected to move in the overall bullish momentum as the current price is near 2 major support lines. If the price rejects the support lines then we will continue to see a major downtrend.
The price change was high at approximately17.2 %, with the week's range between $4144 — $4860.
Price at the time of publishing: $4308
ETH’s market cap: $510 Billion
However, the Indicator summary is giving a 'SELL' signal on ETHUSD.
Out of 11 Oscillator indicators, 3 are giving a SELL signal, 8 are neutral and 0 are giving a BUY signal.
Out of 15 Moving average indicators, 8 are giving SELL signal, 1 is giving neutral and 6 are giving a BUY signal.
Traded volume has remained high in the past week. If we don't see a sudden spike in volume then we can expect the above analysis to hold true.
----------------------------------------------------------------------------------------
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 1 Day candles.
----------------------------------------------------------------------------------------
Any feedback and suggestions would help in further improving the analysis!
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