Ethereum Enters Today Up 0.15%

The Daily View for Ethereum

  • At the moment, ETH’s price is up $2.43 (0.15%) from the day prior.
  • Ethereum has seen its price go down 4 out of the past 5 days, thus creating some compelling opportunities for bears.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Of note is that the 20 day changed directions on ETH; it is now pointing up. 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 time of this writing, ETH’s price is up $2.36 (0.15%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • If you’re a trend trader, consider that the strongest clear trend on the daily chart 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

  • ETH’s average transaction value now stands at 2.0261.
  • Over the past 29 weeks, ETH’s number of daily new addresses has been in a clear downtrend, falling by about 178.40 per day.
  • ETH has a daily large transaction count of 4008, up 13.03% from its value day prior.

Featured Ethereum Idea From TradingView

Below is a trading comment entitled Ethereum Pivots Back to Resistance you may find interesting:

Ethereum saw good support from $1547, and pivoted back to $1653. This is the first of a series of levels, extending into the mid $1700’s. We may certainly expect resistance here, as we did in late July when we rejected $1748. We can expect further support at $1547, but if this does not hold, there is a vacuum zone down to $1424. If we are able to clear $1748, then $1821 is the next target.

quantguy