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

The Daily View for Ethereum

  • At the time of this writing, ETH’s price is up $3.57 (0.15%) from the day prior.
  • The daily chart shows that Ethereum has seen 3 straight up days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Ethereum. Given that we see downtrend on the 20 daily candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
  • Of note is that the 20 day changed directions on ETH; it is now pointing down. 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 $3.57 (0.15%) from the day prior.
  • The daily chart shows that Ethereum has seen 2 straight up days.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • Price action traders may also wish to note that we see a doji candlestick pattern on Ethereum. Given that we see downtrend on the 20 and 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

  • Over the past 29 weeks, ETH’s number of daily new addresses has been in a clear downtrend, falling by about 309.93 per day.
  • For ETH, its daily large transaction count is now at 11197.
  • ETH has a count of active addresses of 559871, down 0.41% from its value day prior.

Featured Ethereum Idea From TradingView

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