Ethereum’s Daily Transaction Count is 1067125 — How Did it Impact Price?

The Daily View for Ethereum

  • At the moment, ETH’s price is down $-5.67 (-0.2%) from the day prior.
  • It’s been a feast for bulls operating on the daily timeframe, as Ethereum has now gone up 4 of the past 5 days.
  • 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 doji 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.

Ethereum’s hourly price chart is shown below.

ETH

The Daily View for Ethereum

  • At the moment, ETH’s price is down $-5.56 (-0.2%) 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 20 day timeframe.
  • Price action traders may also wish to note that we see a doji 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.
  • 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 number of daily new addresses of 90617, down 7.86% from its value day prior.
  • Over the past 29 weeks, ETH’s daily transaction count has been in a clear downtrend, falling by about 1104.15 per day.
  • ETH’s daily large transaction count now stands at 6142.

Featured Ethereum Idea From TradingView

Below is a trading comment entitled ETH/USD – Another chance to buy… are you ready? you may find interesting:

ETH was rejected by the resistance, it’s almost like BTC and ETH are the same coin with a very similar price action. In the case of ETH, we’re about to re-test our support, again. This would provide a good buy opportunity, but my advice is to wait to see how price …

DU09