Ethereum’s Daily Transaction Count is 1295540 — How Did it Impact Price?

The Daily View for Ethereum

  • Currently, ETH’s price is up $5.77 (0.35%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • From a daily perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 day timeframes.
  • 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 time of this writing, ETH’s price is up $5.77 (0.35%) from the day prior.
  • The daily chart shows that Ethereum has seen 2 straight up days.
  • As for the trend on the daily timeframe, we see the clearest trend on the 100 day timeframe.
  • 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

  • Over the past 29 weeks, ETH’s number of daily new addresses has been in a clear downtrend, falling by about 179.95 per day.
  • For ETH, its daily transaction count is now at 1295540.
  • ETH has a daily large transaction count of 3546, up 59.8% from its value day prior.

Featured Ethereum Idea From TradingView

Below is a trading comment entitled Ethereum – “FOMO” is likely to punish buyers you may find interesting:

For about a month now, we repeated that bullish calls for a trend reversal and bottom were false. We continue to stick to this narrative also today. Indeed, recently, we noted that the price of Ethereum started to appear attractive for short position (re)entry in the range between 1500 USD – 1600 USD and above. We believe drying up liquidity in the market suggests trouble ahead with institutional players utilizing the recent bounce to sell their positions. In addition to that, higher interest rates, a weakening economy, and regulatory obstacles continue to threaten the cryptocurrency market.As a result, we think the bear market rally nears its end. Therefore, in accordance with our assessment, we would like to set a price target for ETHUSD at 1 000 USD. Illustration 1.01 https://www.tradingview.com/x/uC4KDBAu/Illustration 1.01 shows the daily chart of ETHUSD. Yellow arrows indicate three bullish breakouts and one bearish retracement. White horizontal lines indicate support and resistance levels. Systemic cracks The list of affected companies and concise description:1. Voyager (bankrupt) – defaulted on $350 million in the U.S. dollar-pegged stablecoin, USDC , and 15,250 bitcoin .2. Zipmex (bankrupt)3. 3 Arrow Capital (bankrupt) – filed for bankruptcy and its founders went missing.4…

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