Ethereum Snaps a 6 Day Down Streak

The Daily View for Ethereum

  • At the time of this writing, ETH’s price is up $7.48 (0.52%) 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.
  • 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.
  • 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 up $7.48 (0.52%) 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.
  • 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.

Below is a daily price chart of Ethereum.

ETH

The Latest From ETH’s Blockchain

  • ETH’s number of daily new addresses now stands at 76556.
  • Over the past 29 weeks, the trend for ETH’s daily large transaction count has been choppy and unclear. It has oscillated between 1748 and 16949.
  • ETH has a daily large transaction count of 5795, up 10.19% from its value day prior.

Featured Ethereum Idea From TradingView

Below is a trading comment entitled ETHEREUM: CAN THIS BE THE BOTTOM??? you may find interesting:

Welcome traders to the ETH update in 3 days timeframe. This update is the continuation of my previous update.ETH got rejected from support 1 and went straight to support 2 level, where the price is stuck. This will be crucial support for ETH cause if it fails to hold this, ETH can drop up to the $1k level where we have support 3. With the big news like ETH 2.0, the recent dump is quite d…

Dexter_The_Trader