Ethereum (ETH) Closes Prior Hour Up 0.31%; 4 Day Up Streak Broken

The Hourly View for ETH

Last Updated September 29, 2020, 14:30 GMT

At the time of this writing, ETH’s price is up $1.1 (0.31%) from the hour prior. ETH has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.

Ethereum Daily Price Recap

Ethereum’s 4 day positive streak has officially concluded, as the candle from the day prior closed down 1.02% ($3.66). The change in price came along side change in volume that was up 42.15% from previous day, but down 48.23% from the Monday of last week. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 4th since the day prior in terms of percentage price change. The daily price chart of Ethereum below illustrates.

Ethereum Technical Analysis

Notably, Ethereum is now close to its 20 day averages, located at 362.82 respectively, and thus may be at a key juncture along those timeframes. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. For additional context, note that price has gone up 8 out of the past 14 days.

Overheard on Twitter

Over on Twitter, here were the top tweets about Ethereum:

  • From iamDCinvestor:

    1/ There are currently 130K BTC circulating on Ethereum.When that number reaches 185K, that will represent approximately 1% of the circulating BTC supply.By the end of his cycle in crypto, I expect it could possibly go as high as 10%, or ~1.85M BTC.Keep an eye on this. 👀

  • From YFBIT_Finance:

    Pre-Sale is live
    1 ETH = 2 YFBT
    Ends when contribution = 200 ETH
    Send your Ethereum to our Presale address below:0x5F888FF76266493FF3701E6B97f1ed3D29b71543We’ll send YFBT after 24hours
    YFBT will be listed on Binance in Oct@cctip_io airdrop 1 YFBT 2000 $YFBT

  • From maticnetwork:

    2/⚡️By utilizing Matic, users will be able to send USDT at lightning-fast speeds at a fraction of the cost of the gas fees on Ethereum. This will not only provide a superior UX, but will also assist with Ethereum’s congestion crisis by taking the strain from the mainchain.

For a longer news piece related to ETH that’s been generating discussion, check out:

Cardano: Metadata tx are ready, first project will migrate from Ethereum

In an AMA yesterday, Charles Hoskinson, inventor of Cardano, announced new details about Goguen….Already this week there is to be a first announcement of a project that will migrate from Ethereum to Cardano, as Hoskinson leaked….New details and progress for both technologies, Plutus and Marlow, will be announced by the end of the month, as Hoskinson promised.