Ethereum is Down for the 9th Day in a Row

The Daily View for Ethereum

  • At the time of this writing, ETH’s price is down $-6.76 (-0.56%) 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.
  • Most noteworthy in the world of moving averages on the daily chart is that the 20 day moving average has been crossed, so that price is now turning below 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 down $-6.83 (-0.57%) from the day prior.
  • It’s been a feast for bears operating on the daily timeframe, as Ethereum has now gone down 9 of the past 10 days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 50 day timeframe.
  • 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.
  • 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 average transaction value has been choppy and unclear. It has oscillated between 0.9009 and 12.4601.
  • For ETH, its daily large transaction count is now at 13277.
  • ETH has a daily large transaction count of 13277, up 153.47% from its value day prior.

Featured Ethereum Idea From TradingView

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