ETH Volatility Analysis for International Imports, 3rd July 2024

Data Analysis

The data released by Bureau of Census, Bureau of Economic Analysis for International Imports in Goods and Services on 3rd July, 2024 has come in at a decrease to $339.4B for May 2024. Compared to the previous release for April 2024 at $339.5B, we can see that foreign trade is still increasing but slowed month over month.

To see the impact and volatility of ETH's price during the International Imports 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 73,536 ETH with prices swinging between 3,281.63 and 3,356.98, representing a swing of 2.24%. Subsequently, the trading volume decreased by 15% to 62,624 ETH. Price action ranged from a low of 3,275.48 to a high of 3,326.36, a difference of 1.53%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 3,857 ETH in trading volume was observed prior to the data release. Prices ranged between a low of 3,294.28 to a high of 3,307.58, a 0.40% change. Immediately following, trading volume increased considerably by 81% to 6,977 ETH. At this time, Ethereum hit a low of 3,281.21 with a high of 3,300.74, a change of 0.59%.

About International Imports in Goods and Services

International Imports measures economic transactions between a nation and its trading partners, showing the amount of a country's imports for a given period. The BEA and Census Bureau reports on the U.S. balance of payments (BOP), covering goods and services that move in to the country. Economists use this information to gauge the relative strength of a country's economy.