ETH Volatility Analysis for Personal Income, 28th August 2020

Data Analysis

The data released by Bureau of Economic Analysis for Personal Income and Outlays on 28th August, 2020 has come in at an increase to 1.3% for July 2020. Compared to the previous release for June 2020 at 0.2%, we can see that consumer sentiment is increasing month over month.

To see the impact and volatility of ETH's price during the Personal Income 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 140,462 ETH with prices swinging between 387.29 and 394.14, representing a swing of 1.74%. Subsequently, the trading volume increased by 13% to 158,412 ETH. Price action ranged from a low of 389.68 to a high of 398.00, a difference of 2.09%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 8,842 ETH in trading volume was observed prior to the data release. Prices ranged between a low of 392.00 to a high of 393.49, a 0.38% change. Immediately following, trading volume decreased by 13% to 7,650 ETH. At this time, Ethereum hit a low of 391.62 with a high of 392.80, a change of 0.30%.

About Personal Income and Outlays

Personal Income measures the change in the total value of income received from all sources by consumers. Income is closely correlated with consumer spending, which accounts for a majority of overall economic activity.