ETH Volatility Analysis for Personal Income, 31st October 2019

Data Analysis

The data released by Bureau of Economic Analysis for Personal Income and Outlays on 31st October, 2019 has come in at a decrease to 0.2% for September 2019. Compared to the previous release for August 2019 at 0.5%, we can see that consumer sentiment is still increasing but slowed 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 132,717 ETH with prices swinging between 177.66 and 184.52, representing a swing of 3.72%. Subsequently, the trading volume decreased by 52% to 64,299 ETH. Price action ranged from a low of 180.99 to a high of 183.96, a difference of 1.61%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 11,882 ETH in trading volume was observed prior to the data release. Prices ranged between a low of 182.85 to a high of 184.13, a 0.70% change. Immediately following, trading volume decreased by 45% to 6,488 ETH. At this time, Ethereum hit a low of 182.90 with a high of 183.95, a change of 0.57%.

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.