The Hourly View for ETH
Last Updated October 9, 2020, 07:015 GMT
Currently, ETH’s price is up $1.14 (0.33%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as ETH has now gone down 4 of the past 5 hours. 2 Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, so that price is now turning 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 is up 2.72% ($9.29) since the previous day, marking the 2nd straight day an increase has occurred. This move happened on lower volume, as yesterday’s volume was down 11.65% from the day before — and down 15.6% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 2nd since the previous day in terms of percentage price change. The daily price chart of Ethereum below illustrates.
Ethereum Technical Analysis
First things first: Ethereum crossed above its 100 day moving average yesterday. Volatility for Ethereum has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 10 days Ethereum’s price has gone up 6 them.
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 haydenzadams:
@APompliano @RyanSAdams @tmccarthyv94 @sassal0x @BanklessHQ @TrustlessState It’s an immutable smart contract on Ethereum. I have no ability to turn it offIf you’re talking about frontends there are ~50 independent onesPlenty of volume is on-chain and doesn’t go through any frontendI could try tweeting “can everyone please stop trading” though
- From DFroggi:
@redtheminer @SBF_Alameda @SBF_Alameda is a parasit, he farms and borrow to short, trying to hurt DeFI Ethereum image.2 ways we need to react:1) NEVER, EVER, TRANSFER 1 SINGLE ASSET TO SOLANA OR SERUM. THAT’S THE MOST EFFECTIVE WAY.2) GIVE HIM A ZEUS CAPITAL LESSON, BUY YFI, UNI AND GET HIM REKT
- From APompliano:
Jeff Bezos could shut down most of these Ethereum-based “DeFi” apps by simply shutting off AWS.You’re not decentralized if you just spin up servers with Uncle Jeff!