Trouble brewing for the short term? Possible levels...
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Quick glance: ETH faced a retracement after the recent cool-off period following its massive rally. Lately, Ether has been under selling pressure with traded volumes dropping tremendously.
Market in the last 24hrs
The last 24 hours were a period of consolidation, where we saw ETH making largely range bound movements.
Today’s Trend analysis
With BTC dropping below the $45,000 mark, there was a similar profit booking across Ether. ETH dropped below the $3000 mark, and it now faces strong resistance from the psychological 3k mark. The short term trend for ETH remains bearish. The Money Flow Index showed a significant drop lately.
One prudent approach to make use of these dips would be to use accurate algo-trading bots that make the perfect use of scalping.
Price volatility remained low at approximately 3.2%, with the day's range between $2957.95 — $3052.73
Price at the time of publishing: $2991.29
ETH's market cap: $350.50 Billion
Volumes have remained pretty 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 4 hour candles.
Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .
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Keep supporting:)
-Mudrex
Quick glance: ETH faced a retracement after the recent cool-off period following its massive rally. Lately, Ether has been under selling pressure with traded volumes dropping tremendously.
Market in the last 24hrs
The last 24 hours were a period of consolidation, where we saw ETH making largely range bound movements.
Today’s Trend analysis
With BTC dropping below the $45,000 mark, there was a similar profit booking across Ether. ETH dropped below the $3000 mark, and it now faces strong resistance from the psychological 3k mark. The short term trend for ETH remains bearish. The Money Flow Index showed a significant drop lately.
One prudent approach to make use of these dips would be to use accurate algo-trading bots that make the perfect use of scalping.
Price volatility remained low at approximately 3.2%, with the day's range between $2957.95 — $3052.73
Price at the time of publishing: $2991.29
ETH's market cap: $350.50 Billion
- Out of 11 Oscillator indicators, 7 are neutral, 1 is bearish and 3 are bullish.
- Out of 15 Moving average indicators, 1 is 'NEUTRAL', 10 are bearish and 4 are bullish .
- Indicator summary is giving a BUY signal on ETHUSD .
Volumes have remained pretty 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 4 hour 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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