Understanding What a Line Price Chart Tells You & Popular Charts
- The simplest price charts you will find for Ethereum to GBP and USD are line charts, and these typically display the closing price for Ethereum over a period of time. However, they can also show other figures, such as the high or opening price, although this typically requires you to select the figure in question.
- Line price charts are incredibly simple since they are just a series of plot points, each representing the price of Ethereum in GBP or USD at a specific time. Each plot point is then connected to create a line with ups and downs. All Ethereum price chart live – Ethereum to GBP & USD graphs will offer several time intervals to display on the chart, typically with options like a day, week, month, or year. The longer intervals are useful for determining overall trends, while the shorter intervals, such as five or 10 minutes, are perfect for watching live price fluctuations.
- Nearly every single website that offers Ethereum price charts will at least have a line price chart, although it may not be the default choice. Whether you visit CoinGecko, EthereumPrice, CryptoCompare, Cryptonator, WorldCoinIndex, or even advanced exchanges, like GDAX, you will have the option available for a line graph. Keep in mind that GDAX does not list information for ETH/GBP, but it does have ETH/USD. Some forex trading sites even include information on ETH/GBP and ETH/USD, such as TradingView, MarketsInsider, and LiveCharts.
Understanding the Information in a Candlestick Chart
Candlestick charts provide additional information on Ethereum pricing, which is why they are the chart of choice for most platforms in a crypto broker comparison that appeal to advanced traders. Their name comes from the candlestick appearance of each plot on the graph, which is rectangular with a line sticking up or down from it, like the wick of a candle. While line price charts only show the Ethereum price at a specific time, candlestick graphs display the key information for the entire interval. These intervals are also typically smaller.
Every single candlestick on one of these Ethereum /USD or GBP charts will show you the opening and closing prices within the time period, plus the lowest and highest prices. The size of the “candle” spans the opening and closing prices. Red bars are known as down-bars and indicate a closing price that is lower than the opening one. Green bars are up-bars and show that the closing price is higher than the opening rate. The “wick” of the candle, which is a line or lines sticking out, indicates the highs and lows for the given time period.
Advanced traders can get a great deal of information from candlestick charts, which lets them predict trends, like if the candle is wide or narrow, where the closing price sits in comparison to the lows and highs, and overall trends that can show whether the market is bullish or bearish.
Top 3 Crypto Broker Comparison
Some Top Live Candlestick Ethereum Price Charts to Consider
- Perhaps the best-known candlestick price chart for Ethereum is on GDAX, although you can only view information for ETH/USD, not ETH/GBP. With the GDAX candlestick chart, you can set the time intervals to one, five, or 15 minutes; one or six hours; or one day. While some candlestick charts will display the open, close, high, and low data as a bubble when you hover over a given point, GDAX displays it above the chart on the right side. There, you can see the specific time interval along with that data written out.
- Interestingly enough, Kraken itself does not display a candlestick chart but Investing.com does using its data, available for both ETH/USD and ETH/GBP. Using their candlestick chart, you can adjust the overall time to one, five, 15, or 30 minutes; one or five hours; or one day, week, or month. You can also adjust the overall range shown on the chart or its scale to one day, week, month, or year, with the additional options of three or six months.
- CEX.io is another standout option for viewing candlestick charts of either crypto-to-fiat pair. If you want to stick to a website focused on cryptocurrency, you can also view candlestick Ethereum price charts with live data on CryptoCompare, ETHNews, or CoinAlyze. Or you can visit a general currency trading website that includes Ethereum to GBP and USD, such as TradingView or MarketsInsider.
Understanding Depth Charts
Another type of Ethereum price chart live – Ethereum to GBP & USD worth learning about is a depth chart. These are not as common as line or candlestick charts, but some advanced trading platforms do offer them. Instead of displaying the most recent prices, depth charts are designed to show you the demand for a particular price.
A depth chart is essentially made up of two separate line graphs, both appearing on the same graph. On the left, you will find a green line that displays buy orders or bids, while the right shows a red line for sell orders or asks. The horizontal x-axis of the graph is ETH price, just as with line or candlestick charts, while the vertical y-axis displays how many orders are in the books at that price.
Because it is based on the number of orders, depth charts are typically only found on exchanges where you can actually buy or sell Ethereum for GBP or USD. GDAX, for example, has a depth chart for the ETH/USD pairing. To use a depth chart, you hover over a point on the bid or ask line to know how much ETH you could sell or buy, respectively, at the given price point. This makes these Ethereum charts an especially useful tool for advanced traders who want to take advantage of good ETH/USD rates. Your best option for a depth chart of ETH prices is to visit GDAX or Kraken.
Familiarize Yourself with Other Types of Ethereum Live Price Charts
As you explore all the various best crypto broker options above, you will notice that some of the websites offer additional types of live Ethereum price charts that are not line, candlestick, or depth charts. If you familiarize yourself with some of the more common other chart types, you can use multiple sources to gain further insight into Ethereum prices to GBP and USD.
Bar charts, also known as open-high-low-close (or OHLC) charts, display similar information to candlestick charts but in a different way that is not as quick to interpret at a glance. Each point is a vertical line that extends between the highest and lowest prices. A horizontal line to the left of the vertical one indicates the opening price, while a line to the right indicates the closing price. Bar charts can also be color coded.
The other types of charts use the activity level as a base instead of price and are similar to those used for other types of trading, like forex. Volume charts take OHLC data but display the information for each volume block instead of a time period. They tend to have smoother lines than time charts. Tick charts show the number of transactions or ticks, which displays the market activity. Like volume charts, tick ones show OHLC data via candlesticks, with each point showing information from a set number of ticks. The difference is that transaction volume differs from tick to tick.
Learning to Analyze Trends Based on Ethereum Price Charts
Simply looking at the live Ethereum price chart will not give you much information, other than what the price is at the moment and was recently, unless you learn how to analyze the chart for additional information. Start by looking for trend lines, which are the invisible straight lines you could draw over the points on an ETH price chart. From there, start looking for trend channels, which are a set of trend lines that sit above and below the data points.
When it comes to technical price analysis, the trend channel is among the most widely used tools. Interestingly enough, you can create shorter segments of trends, which can then be broken up into even smaller segments. It is also important to note that price trends to be fractal in nature, meaning they may seem similar regardless of the zoom you use to look at the trends.
Drawing trends is relatively straightforward, although most will do this with an interactive charting platform of some sort. These will have tools labeled “channel” or “line” that you can then use. To draw an uptrend, start at a low of the trend and draw it going up to the next higher low. Your tool might automatically extend this trend line further. There will likely be an average indicator that helps you draw the line accurately. To draw a downtrend, take similar steps but start with the upper trend line.
Finding Trend Analysis on Ethereum Charts
Don’t worry if the thought of conducting your own trend analysis on an Ethereum price chart live – Ethereum to GBP & USD is daunting. You can also supplement the charts with expert analysis that requires almost no effort on your part. A quick online search will show you multiple in-depth analyses of varying technical levels and from a long list of sources. NewsBTC regularly has updates on Ethereum price trends, sometimes multiple times a day. There are other crypto websites with analyses, as well.
Or you can opt for analysis from a website that focuses solely on Ethereum, such as EthNews. This website also consistently posts the latest prices and trends on Ethereum. There are also some general foreign exchange websites that will have analyses of Ethereum’s price.
Just remember that you should not take expert analyses as fact without support. Look at a minimum of several analysis articles of the recent trends before you make important decisions to trade ETH for USD or GBP based on the information within the articles. If you want to build your skills, you can also use these expert analyses to better understand what the charts tell you, allowing you to spot trends and make predictions in the future.
Finding and Using an Ethereum Price Chart Live – Ethereum to GBP & USD
Whether you choose to use an Ethereum price chart on a website with or without membership, these charts can provide valuable market information that lets you make an educated investment decision. Overall, it is much easier to find information and charts regarding Ethereum to USD, but a growing number of exchanges and crypto-resources provide the same information for Ethereum to GBP, making it easier than ever before to trade in your native currency. With a better understanding of the types of Ethereum price chart live – Ethereum to GBP & USD and how to read them, you will be ready to select the amount of Ethereum to buy and when to make the purchase or be better equipped to create a complex trading strategy regarding ETH and your fiat of choice. All that remains is selecting a website to use for their charts and choosing your crypto broker or exchange platform.