ETH Volatility Analysis for Personal Income, 28th February 2020

Data Analysis

The data released by Bureau of Economic Analysis for Personal Income and Outlays on 28th February, 2020 has come in at an increase to 1.2% for January 2020. Compared to the previous release for December 2019 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 327,382 ETH with prices swinging between 214.01 and 223.83, representing a swing of 4.39%. Subsequently, the trading volume decreased by 33% to 217,735 ETH. Price action ranged from a low of 220.14 to a high of 228.55, a difference of 3.68%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 17,532 ETH in trading volume was observed prior to the data release. Prices ranged between a low of 221.10 to a high of 223.83, a 1.22% change. Immediately following, trading volume increased by 28% to 22,431 ETH. At this time, Ethereum hit a low of 222.59 with a high of 225.16, a change of 1.14%.

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.