ETHUSD to see a sideways movement(4hr) | Bollinger Band squeezes

Market in last 24hrs
-ETHUSD moved around the midline Bollinger band after falling from upper band post-breakout
-Price volatility was high. The market moved ~6.07%, between $437 and $412

Today’s Trend analysis
-ETHUSD expected to see a sideways movement as Bollinger Band squeezes
-Price at time of publishing: $425
-ETH’s market cap: $47.79 Billion
-Oscillator indicators are mostly neutral. RSI at 51
-Moving average indicators are mostly neutral. Ichimoku Cloud is neutral
-Volume indicators saw a decrease in volume in the last few candles being below the 20-candles moving average

Price expected to see a sideways movement as Bollinger band squeezes and price moves alongside of midline Bollinger band. Most of the Oscillator indicators are neutral. MACD line crossed below the signal line, histogram size increasing in the negative direction. RSI at 51, above the midline in the neutral region. CCI in the neutral region as well with a value around -91. Another interesting point to notice here is that the volume was decreasing as the price for resistance from the upper Bollinger band.
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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 1 D 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
ETHEthereum (Cryptocurrency)ethereumforecastETHUSDTechnical IndicatorsOscillatorsTrend Analysis

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