Ethereum (ETH) 4 Day Up Streak Ended, Breaks Above 50 Average; Price Base in Formation Over Past 30 Days

Ethereum Price Recap

Ethereum is up 5.06% since yesterday, marking a reversal from the day prior — and the end of a 4 day positive run. The price move occurred on stronger volume; specifically, yesterday’s volume was up 57.45% from the day prior, and up 13% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 3rd yesterday in terms of percentage price change. Here is a price chart of Ethereum.

Ethereum Technical Analysis

First things first: Ethereum crossed above its 50 day moving average yesterday. Volatility for Ethereum has exploded over the past two weeks relative to the past 30 days, which technical traders will want to note. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving down. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed up. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For additional context, note that price has gone up 6 out of the past 10 days.

Overheard on Twitter

Behold! Here are the top tweets related to Ethereum:

  • From IamCryptoWolf:

    The investment of this decade will be Ethereum.

  • From barnabemonnot:

    Some news! I joined @ethereum as a research scientist in a new team, the Robust Incentives Group.We will look at mechanism design and protocol security from an algorithmic game theory/economics point of view.Excited to share our work soon!

  • From AltcoinAuthor:

    My last book DApp Ubiquity focused on the growth of dApps largely specific to Ethereum. What should my next book be about? @coinkit_ mon 0.2 222 $dgb

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

Ethereum and Tron lead the way for dApp adoption in 2019 – Coin Rivet

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Share: One of the key drivers for mass cryptocurrency adoption is usability….  By comparing the top three, we can quickly reach a fair conclusion: even though Ethereum is the clear winner, Tron is making waves in the space.