Ethereum (ETH) Closes Prior Hour Down -0.42%; in an Uptrend Over Past 90 Days, Heads Up For the 2nd Straight Day, Price Base in Formation Over Past 14 Days

The Hourly View for ETH

Last Updated April 27, 2021, 03:017 GMT

Currently, Ethereum’s price is down $-10.67 (-0.42%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Ethereum Daily Price Recap

Ethereum closed the day prior up 9.16% ($212.76); this denotes the 2nd straight day an increase has occurred. The price move occurred on stronger volume; specifically, yesterday’s volume was up 17.13% from the day prior, and up 17.83% from the same day the week before. On a relative basis, Ethereum was the worst performer out of all 7 of the assets in the Top Cryptos asset class during the day prior. Let’s take a look at the daily price chart of Ethereum.

ETH

Ethereum Technical Analysis

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. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. 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 RyanBerckmans:

    1/ Bitcoin’s cost problemYesterday, it cost BTC holders an annualized run rate of $17B to run the bitcoin blockchain. Ethereum costs a lot, too, but the cost goes away by switching to proof of stake this year.imo, bitcoin’s cost problem is big for BTC holders.
    Here’s why👇

  • From heyjenbartel:

    It also raises questions about why an Ethereum based marketplace was chosen as the place to sell this NFT, when there are already marketplaces built on blockchains that do not cause massive ecological damage (NBA Topshot is built on one, MLB cards just partnered with another)

  • From Flynnjamm:

    The Solana ecosystem feels like Ethereum back in 2018 – lots of potential and excitement with dozens of real applicationsHowever, would love to see more applications that take advantage of the speedEx. On-chain telegram that streams tokens to a DAO every time you send a msg

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

Ethereum’s Vitalik Buterin Donates $600K For India Covid Relief Campaign

Ethereum’s Polygon co-founder Sandeep Nailwal started a crypto campaign relief for India on April 24th….Nailwal’s initiative has received a positive response from the crypto community….In a cause that has taken the attention of international organizations and countries, the crypto community is making a positive impact.