Ethereum’s 3 Day Down Streak Comes to an End

The Daily View for Ethereum

  • At the moment, ETH’s price is up $35.33 (0.76%) 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.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • Most noteworthy in the world of moving averages on the daily chart is that the 100 day moving average has been crossed, with price now being above 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

  • At the moment, ETH’s price is up $34.35 (0.74%) from the day prior.
  • This move is a reversal from the day prior, which saw price move down.
  • 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 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.
  • 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 has a daily transaction count of 1263141, down 3.09% from its value day prior.
  • Over the past 29 weeks, ETH’s number of daily new addresses has been in a clear downtrend, falling by about 566.94 per day.
  • For ETH, its count of active addresses is now at 648144.

Featured Ethereum Idea From TradingView

Below is a trading comment entitled ETH/USD – Correction in progress, $4,400 next! you may find interesting:

Ethereum (ETH) had recently dropped below an ascending wedge formation, as shown in blue, and since then lost its short-term bullish momentum. Over the past week, amid a new ATH for ETH, the bulls were unable to push the coin above the coveted $5,000 mark. The current ATH lies at $4,878 (recorded on Wednesday). Since then, the price is trading sideways and appears to consolidate just above the support at $4,354. The bullish case is that ETH will retest this support before being able to resume its multi-month uptrend.This loss of momentum is not very concerning so long ETH does not drop below the key support and can be interpreted as a healthy break in the uptrend.Trading Volume: Decreasing volume on this pullback. This shows the bears have no conviction to p…

DU09