Ethereum Came Into Today Up 0.42%

The Daily View for Ethereum

  • Currently, ETH’s price is up $6.91 (0.43%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Ethereum has now gone up 4 of the past 5 days.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Regarding moving averages, it should first be noted that price has crossed the 20 day moving average, resulting in them so that price is now turning above it. The moving averages on the daily timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Ethereum’s hourly price chart is shown below.

ETH

The Daily View for Ethereum

  • Currently, ETH’s price is up $6.82 (0.42%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • Regarding the trend, note that the strongest trend exists on the 50 day timeframe.
  • The moving averages on the daily timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
  • Divergence between ETH’s price and its RSI may be manifesting. As such, be on the lookout for trend reversal in ETH’s price.

Below is a daily price chart of Ethereum.

ETH

The Latest From ETH’s Blockchain

  • Over the past 29 weeks, the trend for ETH’s count of active addresses has been choppy and unclear. It has oscillated between 394830 and 1098039.
  • For ETH, its count of active addresses is now at 615252.
  • ETH has a daily large transaction count of 3228, down 19.46% from its value day prior.

Featured Ethereum Idea From TradingView

Below is a trading comment entitled Ethereum Runs Into Resistance you may find interesting:

Ethereum found support at $1547, and pivoted up to higher levels. There is a dense cluster of levels starting at $1653, and extending to the mid $1700’s. We are currently contending with the first of thes…

quantguy