Ethereum (ETH) Closes Last Hour Up $0.39; in an Uptrend Over Past 14 Days, 4 Day Down Streak Snapped, is Inching Close to 50 Day Average

The Hourly View for ETH

Last Updated October 18, 2020, 01:037 GMT

At the time of this writing, ETH’s price is up $0.39 (0.11%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as ETH has now gone up 8 of the past 10 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Ethereum Daily Price Recap

Ethereum’s 4 day negative streak has officially concluded, as the candle from yesterday closed up 0.81% ($2.95). This move happened on lower volume, as yesterday’s volume was down 68.26% from the day before — and down 60.72% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ethereum ended up ranking 2nd for the day in terms of price change relative to yesterday. The daily price chart of Ethereum below illustrates.

ETH

Ethereum Technical Analysis

Notably, Ethereum is now close to its 20, 50 and 100 day averages, located at 361.47, 369.14 and 355.97 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 17 out of the past 30 days.