Ethereum (ETH) Closes Last Hour Up $1.94; 4 Day Up Streak Broken

The Hourly View for ETH

Last Updated September 29, 2020, 23:16 GMT

Currently, ETH’s price is up $1.94 (0.54%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as ETH has now gone up 4 of the past 5 hours. 1 Most noteworthy in the world of moving averages on the hourly chart is that the 50 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

The end of a 4 day positive run has come for Ethereum, which finished the day prior down 1.02% ($3.66). The change in price came along side change in volume that was up 42.15% from previous day, but down 48.23% from the Monday of last week. 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 the day prior. Let’s take a look at the daily price chart of Ethereum.

Ethereum Technical Analysis

Notably, Ethereum is now close to its 20 day averages, located at 362.82 respectively, and thus may be at a key juncture along those timeframes. 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. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. Or to view things another way, note that out of the past 30 days Ethereum’s price has gone up 19 them.

Overheard on Twitter

Over on Twitter, here were the top tweets about Ethereum:

  • From iamDCinvestor:

    1/ There are currently 130K BTC circulating on Ethereum.When that number reaches 185K, that will represent approximately 1% of the circulating BTC supply.By the end of his cycle in crypto, I expect it could possibly go as high as 10%, or ~1.85M BTC.Keep an eye on this. 👀

  • From Fiskantes:

    You who are buying ETH killer tokens with expectation that it will just bootstrap similar ecosystem to Ethereum in a year have no idea how hard this tech is.I am now playing with BSC and I feel like playing with Mist Browser for the first time in 2016 or so.This tech is hard.

  • From maticnetwork:

    2/⚡️By utilizing Matic, users will be able to send USDT at lightning-fast speeds at a fraction of the cost of the gas fees on Ethereum. This will not only provide a superior UX, but will also assist with Ethereum’s congestion crisis by taking the strain from the mainchain.

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

Cardano: Metadata tx are ready, first project will migrate from Ethereum

In an AMA yesterday, Charles Hoskinson, inventor of Cardano, announced new details about Goguen….Already this week there is to be a first announcement of a project that will migrate from Ethereum to Cardano, as Hoskinson leaked….New details and progress for both technologies, Plutus and Marlow, will be announced by the end of the month, as Hoskinson promised.