Ethereum (ETH) Closes Last Hour Up $0.35; Price Base in Formation Over Past 30 Days, Heads Down For the 2nd Consecutive Day

The Hourly View for ETH

Last Updated October 15, 2020, 15:15 GMT

At the moment, ETH’s price is up $0.35 (0.09%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 1 Of note is that the 100 hour changed directions on ETH; it is now pointing up. 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 yesterday down 0.62% ($2.37); this denotes the 2nd consecutive day a decline has happened. This move happened on lower volume, as yesterday’s volume was down 10.86% from the day before — and down 24.74% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ethereum ended up ranking 4th for the day in terms of price change relative to yesterday. Below is a daily price chart of Ethereum.

Ethereum Technical Analysis

Notably, the current price of Ethereum is sitting close to its 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that Ethereum’s price has gone up 18 of the previous 30 trading days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Ethereum for the past day were:

  • From TheCryptoLark:

    Investors are currently buying #Apple valued at 2.1 trillion, and yields only 0.68% dividend. Yet some think that investors won’t buy #Ethereum which could yield 5% and only has a market cap of 43 billion! $eth will go insane over the next few years.

  • From ricburton:

    6 years ago I sat in a hacker house in San Francisco and listened to @gavofyork talk about how the big tech companies had way too much power and how blockchains like @ethereum could help swing the pendulum back towards the people.Today it feels like absolutely everyone agrees.

  • From DeFiGod1:

    5/ it from XRP). In 20 years, all kids will have QR codes and Ethereum wallets. They will scan QR codes and send money to each other, LINK will facilitate this seemless payment process and connect all backend channels. Kids will then be able to swap money instantly and for

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

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According to the latest data from Github, the development company behind Cardano, IOHK, again released the most updates in a row this month….At the same time, Cardano is also developing the ERC20 Token Converte….Using that feature companies can easily migrate from Ethereum to Cardano….About usContact usLegalsData protection policy *= Affiliate-Link Risk warning and disclaimer: The contents of this website are intended solely for the entertainment and information of readers and do not provide investment advice or a recommendation within the context of the Securities Trading Act.