Ethereum Snaps a 3 Day Down Streak

The Daily View for Ethereum

  • At the time of this writing, ETH’s price is up $0.31 (0.02%) from the day prior.
  • This is the 2nd day in a row Ethereum has seen its price head up.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Price action traders may also wish to note that we see a pin bar 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.
  • 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 up $0.46 (0.03%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • Price action traders may also wish to note that we see a pin bar 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.
  • 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.

Below is a daily price chart of Ethereum.

ETH

The Latest From ETH’s Blockchain

  • Over the past 29 weeks, ETH’s daily transaction count has been in a clear downtrend, falling by about 855.70 per day.
  • ETH’s number of daily new addresses now stands at 64476.
  • ETH has a number of daily new addresses of 64476, down 9.26% from its value day prior.

Featured Ethereum Idea From TradingView

Below is a trading comment entitled Ethereum Successfully Executes Merge on Ropsten Testnet you may find interesting:

Ethereum has completed the Merge on the Ropsten testnet. This is one of the final steps before the final Merge with the Ethereum mainnet that will take place later this year.The Ethereum network has hit yet another major milestone, with the Merge successfully taking place on the Ropsten testnet yesterday. The move sets the stage for a full transition to proof-of-stake for the network, as Ropsten is one of the final testnets to experience the Beacon chain merge.Ethereum first announced that Ropsten would undergo the Merge earlier in the week, news of which resulted in celebration within the crypto community. Transactions are already underway, and Et…

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