Ethereum (ETH) Price Near $1,509.22; Crosses 50 Day Moving Average, But Still in a Downtrend Over Past 14 Days

The Hourly View for ETH

Last Updated March 5, 2021, 00:017 GMT

Currently, Ethereum’s price is down $-29.15 (-1.89%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 200 hour moving average, resulting in them so that price is now turning below 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 choppiness in the recent daily price action of Ethereum continues; to start today, it came in at a price of 1568.65 US dollars, up 5.37% ($79.98) since the day prior. The change in price came along side change in volume that was up 1.21% from previous day, but down 48.17% from the Thursday of last week. Ethereum outperformed all 7 assets in the Top Cryptos asset class since the day prior. Here is a daily price chart of Ethereum.

ETH

Ethereum Technical Analysis

Notably, Ethereum crossed above its 50 day moving average yesterday. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 14 days Ethereum’s price has gone up 7 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 Coinborsa:

    @DappRadar @cz_binance @ethereum @binance @BinanceChain We believed in BSC,but the recent increase in transaction fees is incredible and some icos in the bsc network have defrauded investors, why didn’t you stop it? How many of you listed coins from the BSC network on binance? 4 or 5? I think you don’t believe in your own bsc network?

  • From QwQiao:

    IMO ETH is the most under-owned liquid asset in crypto right now. Relative to BTC. Relative to Ethereum competitors. Relative to DeFi even. Everyone hates it because of the fees. But Ethereum *will* scale. And the upcoming upgrades will get the narrative going.

  • From 42_paradox:

    When #IOTA is ready with these sick smart contracts shit will hit the fan for Ethereum because DeFi, or like Ethereans call it “the Fee”, will be without those ridiculous costs and entry barriers.
    Imagine DeFi on a scalable platform for zero costs: the real innovation petri dish.

For a longer news piece related to ETH that’s been generating discussion, check out:

Geth v1.10.0 | Ethereum Foundation Blog

Ethereum’s state trie is a Merkle tree, where the leaves contain the useful data and each node above is the hash of 16 children….For Geth, that topic is state pruning….When processing a new block, a node takes the current state of the network as input data and mutates it according to the transactions in the block, generating a new, output data….Execution time wise, pruning takes a few hours (greatly depends on your disk speed and accumulated junk), one third of which is indexing recent trie node from snapshots, one third deleting stale trie nodes and the last third compacting the database to reclaim freed up space….Ethereum has been around for a while now, and in its almost 6 years’ of existence, Ethereum’s users issued over 1 billion transactions….Geth v1.10.0 switches on transaction unindexing by default and sets it to 2,350,000 blocks (about 1 year).