Ethereum (ETH) Closes Last Hour Up $2.08; Heads Down For the 2nd Day In A Row

The Hourly View for ETH

Last Updated October 2, 2020, 01:038 GMT

Currently, ETH’s price is up $2.08 (0.59%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 1 Regarding moving averages, it should first be noted that price has crossed the 200 hour moving average, resulting in them with price now being above it. 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 1.88% ($6.77); this denotes the 2nd day in a row it has gone down. The price move occurred on volume that was up 54.79% from the day prior, but down 32.26% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ethereum ended up ranking 6th for the day in terms of price change relative to the day prior. Here is a daily price chart of Ethereum.

Ethereum Technical Analysis

Notably, the current price of Ethereum is sitting close to its 20 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 90 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days Ethereum’s price has gone up 7 them.

Overheard on Twitter

Behold! Here are the top tweets related to Ethereum:

  • From kaiynne:

    Optimistic Ethereum will be the DeFi chain over the next 12-24 months. Nothing is even close. Mainnet is coming and it’s going to melt your fucking faces. @clembalestrat should have a sneak peak for you all very soon…

  • From spencernoon:

    No one will ever be able to convince me that @Square refusing to support Ethereum (in addition to Bitcoin) isn’t dumb. It’s the most head-scratching crypto strategy we’ve ever seen from a big corporate, and that’s saying something…

  • From garrygolden:

    Today’s news of @singularity_net expanding into Cardano is a big deal (SN not leaving Ethereum). SingularityNet is a future focused effort to decentralize AI apps. They chose Cardano because it can and will accommodate complex operations. Pay attention to Cardano’s long game.

In terms of news links for Ethereum here’s one to try:

Phantasma integrates Ethereum. Dear SOULdiers | by Jay | PhantasticPhantasma | Sep, 2020 | Medium

Initially Phantasma will support swapping ETH from Ethereum to Phantasma, and SOUL & KCAL from Phantasma to Ethereum….Being able to swap SOUL and KCAL from the Phantasma mainnet to Ethereum enables us to take advantage of the well established Ethereum based decentralized exchanges such as Uniswap which has seen a surge in trading volume recently.