Wondering About Ethereum’s Latest Count Of Active Addresses? Read to Find Out

The Daily View for Ethereum

  • At the moment, ETH’s price is up $10.88 (1.04%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • If you’re a trader with a preference for rangebound markets, you may wish to note that there isn’t a clear trend 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 moment, ETH’s price is up $10.88 (1.04%) from the day prior.
  • This is a reversal of the price action on the previous day, in which price moved down.
  • As for the trend on the daily timeframe, we see the clearest trend on the 20 day timeframe.
  • 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.
  • 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

  • For ETH, its average transaction value is now at 3.5422.
  • Over the past 29 weeks, ETH’s number of daily new addresses has been in a clear downtrend, falling by about 256.30 per day.
  • ETH has a daily transaction count of 967619, down 3.94% from its value day prior.

Featured Ethereum Idea From TradingView

Below is a trading comment entitled ETHUSD Daily TA Neutral Bearish you may find interesting:

ETHUSD Daily neutral with a bearish bias. Recommended ratio: 35% ETH, 65% Cash. *IMPORTANT: If ETH breaks down below $775.83 support then it will likely retest the uptrend line from February 2017 at ~$300 for the first time since July 2020. If this happens, it would imply that all of ETH’s value after March 2020 came from Covid-19 stimulus + 0% interest rate environment + quantitative easing; rather than from the vast DeFi/NFT network comprised of OpenSea, Yearn.Finance, Metamask, Uniswap, Moonpay, Transak, Chainlink, Polygon, etc. This would obviously be a death blow to the industry and would surely liquidate a majority of leveraged positions.* **Chairman Pow spent a solid four hours fielding rhetorical questions and scathing criticisms from the Senate Banking Committee regarding the Fed’s response to inflation today. He handled it very well and stayed in line with his tone and perspective from last week’s FOMC meeting. He mentioned that cryptocurrencies currently present no systemic risk to the economy but that they (Fed) are paying close attention to it (most likely DeFi and a CBDC). He also mentioned that the Fed funds rate will likely have to be beyond 2.5% to restore price stabi…

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