Technical Signs Suggest ETH’s Uptrend May Be Stalling

The Daily View for Ethereum

  • Currently, ETH’s price is up $14.68 (0.41%) 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.
  • 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 $13.95 (0.39%) from the day prior.
  • The daily chart shows that Ethereum has seen 2 straight up days.
  • Regarding the trend, note that the strongest trend exists on the 20 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 alert: Trend in ETH’s price and its RSI are diverging. ETH’s price is rising faster than its RSI.

Below is a daily price chart of Ethereum.

ETH

The Latest From ETH’s Blockchain

  • ETH’s daily large transaction count now stands at 7419.
  • Over the past 29 weeks, the trend for ETH’s average transaction value has been choppy and unclear. It has oscillated between 1.4622 and 26.8724.
  • ETH has an average transaction value of 2.6488, up 27.38% from its value day prior.

Featured Ethereum Idea From TradingView

Below is a trading comment entitled WILL ETH BREAK ITS ATH??? you may find interesting:

Hello folks,Welcome to this another important update on ETH in 4 hours timeframe.Thank you for being so supportive. It’s an honor to serve you guys with quality content. Ethereum is still under the channel and above the support level but it is failing to break the upper trendline. The dotted line shows a trendline formed under a trendline which is currently acting as a support for ETH. A breakdown below this channel will form a bearish scenario for ETH. A continuous fall …

Dexter_The_Trader