Ethereum 4 Hour Price Update
Updated July 02, 2020 03:20 AM GMT (11:20 PM EST)
231.34 (USD) was the opening price of the four-hour candle for Ethereum, resulting in the last 4 hour candle being one in which price moved up 0.12% ($0.28) from the last 4 hour candle. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 3rd for the four-hour candle in terms of price change relative to the last 4 hour candle.
Ethereum Daily Price Recap
The choppiness in the recent daily price action of Ethereum continues; to start today, it came in at a price of 231.05 US dollars, up 2.42% ($5.47) since yesterday. The price move occurred on volume that was up 53.93% from the day prior, but down 48.5% from the same day the week before. Ethereum outperformed all 5 assets in the Top Cryptos asset class since yesterday. Congrats to its holders! Below is a daily price chart of Ethereum.
Ethereum Technical Analysis
Coming into today Ethereum is now close to its 20 and 50 day averages, located at 231.86 and 225.86 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. Traders will also want to note, though, that a counter trend — meaning a trend going down — can be seen on the 30 day timeframe. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. For another vantage point, consider that Ethereum’s price has gone down 17 of the previous 30 trading days.
Overheard on Twitter
Behold! Here are the top tweets related to Ethereum:
- From Crypto___Oracle:
One way to spot a project w/ alot of potential is when a smal but growing group of intelligent & deeply passionate people start to gather around it. You saw it with Bitcoin, Ethereum & Chainlink. What other projects have it? I see it w/ Synthetix now & I believe DMM in more time.
- From chainlink:
Developers can now use #Chainlink’s Fast Gas/Gwei Price Reference Feed for a decentralized on-chain source of the current fast gas price on #Ethereum. Referencing Chainlink’s fast gas price at the point of execution ensures users don’t overpay for gas.
- From iamDCinvestor:
The people who say “there’s no reason for $ETH go up in value, even if Ethereum becomes a global settlement layer and home of DeFi”……remind me a lot of the people who used to say “there’s no reason for AMZN stock to go up in value, because Amazon doesn’t make any money.”
For a longer news piece related to ETH that’s been generating discussion, check out:
What Is Ethereum? | Binance Academy
The Ethereum blockchain is similar to Bitcoin’s, although the data it stores – and the way it stores it – is different….The smart contracts that run on Ethereum are triggered by transactions (either from users or other contracts)….When a user sends a transaction to a contract, every node on the network runs the contract’s code and records the output….An Ethereum node can be anything from a simple mobile phone wallet application to a computer that stores an entire copy of the blockchain. All nodes work as a communication point somehow, but there are different types of nodes on the Ethereum network….To interface with the Ethereum network in a way that allows you to validate blockchain data independently, you need to run a full node using software like the ones mentioned above. The software will download blocks from other nodes and verify if the transactions included are correct….This means that anyone can run an Ethereum node and strengthen the network by validating transactions and blocks. Similarly to Bitcoin, there are a number of businesses that offer plug-n-play Ethereum nodes.