civilKitten60243

ETH enters long term bearish territory| Volume remain low

Short
BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
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Quick glance:
ETH has dropped below the crucial support level . It will now act as a sturdy resistance zone keeping a check on ETH moving higher. On the technical front, price is still below the long term 200-day Moving Average. However, the traded volume continues to remain low signalling retail sell-off and not institutional sell-off.

Market in the last 24hrs
ETH suffered a rapid decline over the past 24 hours.

Today’s Trend analysis
ETH will likely remain under huge pressure. We might see a short pump. However, it is important to be careful while trading the bull trap, as the conditions seem quite bearish at the moment. The only way we would see a reversal if we see huge buying pressure combined with large volumes.

Price volatility remained high at approximately 6.2%, with the day's range between $1805. 00 — $1918.87.

Price at the time of publishing: $1830.07
ETH's market cap: $213.34 Billion


  • Out of 11 Oscillator indicators, 9 are neutral, 2 are bearish and none are bullish .

  • Out of 15 Moving average indicators, 1 is 'NEUTRAL', 14 are bearish and none are bullish .

  • Indicator summary is giving a 'Strong Sell' signal on ETHUSD .

Volumes have remained 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 daily timeframe candles.

Note: Above analysis would hold true if we do not encounter a sudden jump in trade volume .

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Comments

Great piece of analysis, covered everything.
I belive this is bottom for now, as soon as spy and dxy settle down there could be a change in bias. This could look like a great buy zone. Volume much required.
+2 Reply
nice analysis
+1 Reply