Ethereum is Up for the 3rd Day in a Row

The Daily View for Ethereum

  • At the moment, ETH’s price is up $3.28 (0.21%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • 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.

Ethereum’s hourly price chart is shown below.

ETH

The Daily View for Ethereum

  • Currently, ETH’s price is up $3.28 (0.21%) from the day prior.
  • Ethereum has seen its price go up 4 out of the past 5 days, thus creating some compelling opportunities for bulls.
  • Regarding the trend, note that the strongest trend 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.
  • 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

  • For ETH, its count of active addresses is now at 534195.
  • Over the past 29 weeks, the trend for ETH’s daily transaction count has been choppy and unclear. It has oscillated between 872310 and 1312970.
  • ETH has a count of active addresses of 534195, down 7.71% from its value day prior.

Featured Ethereum Idea From TradingView

Below is a trading comment entitled Ether: “Merge” support continues you may find interesting:

A “Merge” is a word lately often used by both analysts and investors when Ether is in question. It refers to the announcement by the Ethereum Foundation that a new fork, which will be released in September, will bring more efficient proof-of-work for the Ethereum network. For the last two weeks, ETH is strongly supported by this news, where the price of the coin has been pushed from the $1.0K support line, up to the $1.5K resistance during the previous week. Highest level reached during the week was $1.640, bringing the ETH to the top perfor…

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