Ethereum Enters Today Down -0.1%

The Daily View for Ethereum

  • At the moment, ETH’s price is down $-4.5 (-0.1%) 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 trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend on the 20, 50 and 100 day timeframes.
  • Most noteworthy in the world of moving averages on the daily chart is that the 100 day moving average has been crossed, with price now being below it. 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

  • At the moment, ETH’s price is down $-4.48 (-0.1%) from the day prior.
  • This move is a reversal from the day prior, which saw price move up.
  • Regarding the trend, note that the strongest trend exists on the 20 day timeframe.
  • The moving averages on the daily timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.
  • 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

  • ETH has a number of daily new addresses of 157025, down 11.11% from its value day prior.
  • Over the past 29 weeks, ETH’s number of daily new addresses has been in a clear downtrend, falling by about 727.77 per day.
  • ETH’s number of daily new addresses now stands at 157025.

Featured Ethereum Idea From TradingView

Below is a trading comment entitled ETH/USD – ETH Attempting a New Break Beyond $4,460! you may find interesting:

Ethereum bulls seem primed to take another go at a new all-time high, but will it be more impressive this time?The bulls are attempting another break above the all-time high after the shakeout from 27th October which saw the market take a downturn. After the short-lived correction last week, ETH recovered quickly and has maintained a price above the $3,969 support level. This is a show of strength from the bulls and the bears need to return in force if they stand any chance of reversing this momentum.Trading Volume: The recovery from the breakdown last week was on good volume and it has maintained steady since. A push above the all-time high can lead to an explosion in volume and volatility equally.RSI: The RSI has maintained its level just under 70 points on the daily timeframe which lea…

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