Ethereum’s Hot Streak: Up 4 of the Past 5 Days

The Daily View for Ethereum

  • At the moment, ETH’s price is up $0.99 (0.02%) 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.
  • Price action traders may also wish to note that we see a pin bar 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 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.

Ethereum’s hourly price chart is shown below.

ETH

The Daily View for Ethereum

  • At the moment, ETH’s price is up $4.18 (0.09%) 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.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 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 and 10 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 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

  • Over the past 29 weeks, the trend for ETH’s average transaction value has been choppy and unclear. It has oscillated between 1.3175 and 25.9127.
  • ETH’s number of daily new addresses now stands at 155271.
  • ETH has a daily transaction count of 1284385, up 3.56% from its value day prior.

Featured Ethereum Idea From TradingView

Below is a trading comment entitled New Highs for Ethereum!! 🤑🚀 you may find interesting:

Ethereum has continued to rally, currently just below our next target at $4858. We are starting to encounter a series of red triangles on the KRI showing that perhaps this rally is increasingly meeting resist…

quantguy