Ethereum’s Daily Transaction Count is 1161419 — How Did it Impact Price?

The Daily View for Ethereum

  • Currently, ETH’s price is down $0.03 (0%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved 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 an uptrend 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

  • Currently, ETH’s price is down $0.03 (0%) 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 50 day timeframe.
  • Price action traders may also wish to note that we see a pin bar candlestick pattern on Ethereum. Given that we see an uptrend 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 daily transaction count of 1161419, down 29.21% from its value day prior.
  • Over the past 29 weeks, the trend for ETH’s daily large transaction count has been choppy and unclear. It has oscillated between 1501 and 16949.
  • ETH’s average transaction value now stands at 2.8224.

Featured Ethereum Idea From TradingView

Below is a trading comment entitled Ethereum – my bearish scenario – a healthy correction you may find interesting:

Ethereum – my bearish scenario – a healthy correctionOn the 4h chart we have a bearish Stoch RSI cross, a bearish divergence on RSI and ETH is in a bear flagAll points teasing a possible correction – this correction is healthy to FIB golden pocket ($1.260 – $1.238) or even to FIB 78.6% ($1.146)Prices below $1.146 should concern What do you think Crypto Nation?*not financial advicedo your own research before investing

Crypto4Everybody