Ethereum (ETH) Closes Prior Hour Up 0.5%; Moves Down For the 2nd Consecutive Day, But Still in an Uptrend Over Past 30 Days

The Hourly View for ETH

Last Updated November 20, 2020, 03:017 GMT

At the time of this writing, ETH’s price is up $2.43 (0.5%) from the hour prior. The hourly chart shows that ETH has seen 3 straight up hours. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. 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 closed yesterday down 1.45% ($6.94); this denotes the 2nd consecutive day it has gone down. The price move occurred on stronger volume; specifically, yesterday’s volume was up 25.06% from the day prior, and up 116.84% 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 yesterday. The daily price chart of Ethereum below illustrates.

ETH

Ethereum Technical Analysis

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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 16 out of the past 30 days.