The Hourly View for ETH
Last Updated November 27, 2020, 02:037 GMT
At the time of this writing, ETH’s price is down $-1.18 (-0.22%) from the hour prior. This is the 2nd straight hour ETH has seen its price head down. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on ETH. Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 closed the day prior down 8.64% ($49.18); this denotes the 3rd day in a row a decline has happened. As for how volume fared, yesterday’s volume was up 87.94% from the previous day (Wednesday), and up 81.3% from Thursday of the week before. Out of the 7 instruments in the Top Cryptos asset class, Ethereum ended up ranking 2nd for the day in terms of price change relative to the day prior. Here is a daily price chart of Ethereum.
Ethereum Technical Analysis
The first thing we should note is that Ethereum is now close to its 20 day averages, located at 495.99 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 10 days Ethereum’s price has gone up 5 them.
Overheard on Twitter
Over on Twitter, here were the top tweets about Ethereum:
- From VitalikButerin:
One of the weirdest anti-ethereum arguments I see is “Vitalik said high fees are bad but look how high ETH fees went in 2020!!!”Like.. we have *multiple* massive multi-year efforts to solve that exact problem, and the first phase of one of them is literally launching next week.
- From ricburton:
I strongly believe at some point in the future a team will release a currency that has a much more useful monetary policy than counting to 21,000,000 for 100 yearsThere has to be something betterI also strongly believe that this new currency will be built on top of Ethereum
- From JohnKalnins1:
Never forget that on day 33 of the AA you could get 1,841,000 HEX for less than $200 of Ethereum because the market was scared. I purchased HEX on that day. Did you? Fear in the market is your friend and maximizes your ROI, so once again I purchased HEX today. Did you?…
As for a news story related to Ethereum getting some buzz:
Additional transactions have been deposited into the Ethereum 2.0 contract to ensure a Dec.1 launch of Eth2’s beacon chain The highly anticipated launch of Ethereum 2.0, or Eth2, is scheduled to take place next week….Mashinsky said: Mashinsky further shared that the growing Celsius community has been modeled off Ethereum, noting the importance of giving back the Ethereum network: Although the Eth2 beacon chain is set to launch on Dec.