ETH Volatility Analysis for Retail Sales, 14th December 2023

Data Analysis

The data released by Bureau of Census for Retail Sales on 14th December, 2023 has come in at an increase to -0.1% for November 2023. Compared to the previous release for October 2023 at -0.5%, we can see that consumer sentiment has decreased but at a slower rate month over month.

To see the impact and volatility of ETH's price during the Retail Sales 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 95,722 ETH with prices swinging between 2,260.00 and 2,320.21, representing a swing of 2.60%. Subsequently, the trading volume increased by 9% to 104,140 ETH. Price action ranged from a low of 2,228.20 to a high of 2,296.99, a difference of 2.99%

15-Minutes Chart Analysis

Analysing on a lower time frame to get a more accurate picture, 9,153 ETH in trading volume was observed prior to the data release. Prices ranged between a low of 2,260.00 to a high of 2,287.89, a 1.22% change. Immediately following, trading volume increased significantly by 215% to 28,800 ETH. At this time, Ethereum hit a low of 2,228.20 with a high of 2,277.93, a significant change of 2.18%.

About Retail Sales

The U.S. Census Bureau publishes the Retail Sales report every month. It is a measure of consumer spending, an important indicator of the US GDP. Retail firms provide data on the dollar value of their retail sales and inventories. A sample of 12,000 firms is included in the final survey and 5,000 in the advanced one. The advanced estimated data is based on a subsample from the USCB complete retail & food services sample.