ETH decoupling from BTC|Short term pullback, long term bullish
Diupdate
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Quick glance: As of now, ETHUSD seems to be dragged down by bears. A closer look reveals that this cyclical pullback has been happening on ETH for quite some time. It is still forming higher highs. The short term 50 MA is still higher than the longer term 100 MA.
In our previous analysis on ETHUSD , we had correctly predicted this pullback shenanigan.
Market in the last 24hrs
ETH has been under huge selling pressure in the past 24 hours. Volumes initially spiked, however, it later went down as the panic settled.
Today’s Trend analysis
ETH still struggles to maintain the support level. The price is quite close to the daily timeframe demand zone. We can expect ETH to hover around the $2000 mark for sometime.
Price volatility remained high at approximately 9.2%, with the day's range between $2087.00 — $2277.74.
Price at the time of publishing: $2117.71
ETH's market cap: $246.34 Billion
Out of 11 Oscillator indicators, 8 are neutral, and 2 are bearish and 1 is bullish.
Out of 15 Moving average indicators, 1 is 'NEUTRAL', 10 are bearish and 4 are bullish.
Indicator summary is giving a 'SELL' signal on ETHUSD .
Volumes have decreased steadily 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 .
----------------------------------------------------------------------------------------
Keep supporting:)
-Mudrex
Quick glance: As of now, ETHUSD seems to be dragged down by bears. A closer look reveals that this cyclical pullback has been happening on ETH for quite some time. It is still forming higher highs. The short term 50 MA is still higher than the longer term 100 MA.
In our previous analysis on ETHUSD , we had correctly predicted this pullback shenanigan.
Market in the last 24hrs
ETH has been under huge selling pressure in the past 24 hours. Volumes initially spiked, however, it later went down as the panic settled.
Today’s Trend analysis
ETH still struggles to maintain the support level. The price is quite close to the daily timeframe demand zone. We can expect ETH to hover around the $2000 mark for sometime.
Price volatility remained high at approximately 9.2%, with the day's range between $2087.00 — $2277.74.
Price at the time of publishing: $2117.71
ETH's market cap: $246.34 Billion
Out of 11 Oscillator indicators, 8 are neutral, and 2 are bearish and 1 is bullish.
Out of 15 Moving average indicators, 1 is 'NEUTRAL', 10 are bearish and 4 are bullish.
Indicator summary is giving a 'SELL' signal on ETHUSD .
Volumes have decreased steadily 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 .
----------------------------------------------------------------------------------------
Keep supporting:)
-Mudrex
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