ETH Volatility Analysis for Personal Income, 1st October 2020

Data Analysis

The data released by Bureau of Economic Analysis for Personal Income and Outlays on 1st October, 2020 has come in at a decrease to 0.8% for September 2020. Compared to the previous release for July 2020 at 1.3%, 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 89,440 ETH with prices swinging between 366.23 and 369.39, representing a swing of 0.86%. Subsequently, the trading volume increased considerably by 84% to 164,496 ETH. Price action ranged from a low of 351.80 to a high of 368.24, a significant difference of 4.46%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 3,202 ETH in trading volume was observed prior to the data release. Prices ranged between a low of 366.80 to a high of 367.37, a 0.16% change. Immediately following, trading volume increased by 32% to 4,236 ETH. At this time, Ethereum hit a low of 367.20 with a high of 368.24, a significant change of 0.28%.

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.