Ethereum 4 Hour Price Update
Updated July 03, 2020 01:35 AM GMT (09:35 PM EST)
Ethereum closed the last 4 hour candle up 0.58% ($1.3); this denotes the 2nd candle in a row it has gone up. On a relative basis, the last 4 hour candle were pretty good: Ethereum bested all 5 of the assets in the Top Cryptos class 🙂
Ethereum Daily Price Recap
Ethereum entered today at $226.49, down 1.97% ($4.56) from the previous day. The price move occurred on volume that was up 4.28% from the day prior, but down 19.43% from the same day the week before. Those trading within the Top Cryptos asset class should know that Ethereum was the worst performer in the class during the previous day. Here is a daily price chart of Ethereum.
Ethereum Technical Analysis
The first thing we should note is that the current price of Ethereum is sitting close to its 20 and 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 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. For additional context, note that price has gone down 17 out of the past 30 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 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.”
- From CamouflageEth:
Our 2nd airdrop is live! As we are about to distribute the 1st airdrop tokens, you can start leaving here your ethereum addresses. The first 200 addresses here will receive 4000 CAMO tokens some time after the uniswap listing.Go to #2nd-airdrop of our discord server.
- From ChainLinkGod:
@iDecentralized Can all $ETH be moved to Bitcoin with minimal disruption to the #Ethereum network supporting #DeFi?That’s pretty much what you’re asking, doesn’t make any sense, the only reason all LINK would need to move is if Ethereum failed, in which case there would be no DeFi to support
In terms of news links for Ethereum here’s one to try:
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.