ETH Volatility Analysis for Personal Income, 27th October 2023

Data Analysis

The data released by Bureau of Economic Analysis for Personal Income and Outlays on 27th October, 2023 has come in at a decrease to 0.4% for September 2023. Compared to the previous release for August 2023 at 0.4%, 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 37,048 ETH with prices swinging between 1,775.44 and 1,791.37, representing a swing of 0.89%. Subsequently, the trading volume increased considerably by 100% to 74,267 ETH. Price action ranged from a low of 1,770.25 to a high of 1,796.84, a significant difference of 1.48%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 2,976 ETH in trading volume was observed prior to the data release. Prices ranged between a low of 1,779.39 to a high of 1,786.88, a 0.42% change. Immediately following, trading volume increased by 47% to 4,385 ETH. At this time, Ethereum hit a low of 1,778.52 with a high of 1,789.82, a significant change of 0.63%.

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.