ETH Volatility Analysis for Durable Orders, 27th November 2024

Data Analysis

The data released by Bureau of Census for Durable Goods Orders on 27th November, 2024 has come in at a decrease to 0.3% for October 2024. Compared to the previous release for September 2024 at 0.9%, we can see that business confidence is still increasing but slowed month over month.

To see the impact and volatility of ETH's price during the Durable Orders release, we will first observe the difference in volume and price changes on the 4-hours chart, followed by the 15-minutes chart. Change in prices will be be determined by the high and low prices instead of the opening and closing prices.

4-Hours Chart Analysis

In the period prior to the release, the trading volume was 110,250 ETH with prices swinging between 3,402.43 and 3,498.00, representing a swing of 2.73%. Subsequently, the trading volume increased considerably by 90% to 208,991 ETH. Price action ranged from a low of 3,468.11 to a high of 3,574.89, a difference of 2.99%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 4,948 ETH in trading volume was observed prior to the data release. Prices ranged between a low of 3,474.44 to a high of 3,493.33, a 0.54% change. Immediately following, trading volume increased by 38% to 6,820 ETH. At this time, Ethereum hit a low of 3,475.37 with a high of 3,492.82, a change of 0.50%.

About Durable Goods Orders

The U.S. Census Bureau publishes the Durable Goods Orders report every month. Durable goods orders reflect new orders placed with domestic manufacturers for delivery of long-lasting manufactured goods (durable goods) in the near term or future. The change in the total value of new orders is measured and shared with the public in two releases per month: the advance report on durable goods and the manufacturers' shipments, inventories, and orders.