Ethereum Does it Again: Heads Down for the 2nd Straight Day

The Daily View for Ethereum

  • At the time of this writing, ETH’s price is down $-2.73 (-0.08%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved up.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart exists on the 100 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.

Ethereum’s hourly price chart is shown below.

ETH

The Daily View for Ethereum

  • Currently, ETH’s price is down $-2.73 (-0.08%) from the day prior.
  • The daily chart shows that Ethereum has seen 2 straight down days.
  • Regarding the trend, note that the strongest trend exists on the 100 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Ethereum. Given that we see an uptrend on the 10 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • 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.

Below is a daily price chart of Ethereum.

ETH

The Latest From ETH’s Blockchain

  • ETH’s count of active addresses now stands at 526745.
  • Over the past 29 weeks, the trend for ETH’s daily large transaction count has been choppy and unclear. It has oscillated between 2920 and 31775.
  • ETH has a count of active addresses of 526745, up 0.91% from its value day prior.

Featured Ethereum Idea From TradingView

Below is a trading comment entitled Eth update 4hr and weekly you may find interesting:

After get lifted from weekly support and breaking above bunch of resistance ma on 4hr, eth declining towards green support band on 4hr now.Once it will enter green support band on 4hr…

Forexblade