Ethereum (ETH) Closes Last Hour Up $0.44; Pin Bar Pattern Appearing on Chart

The Hourly View for ETH

Last Updated October 1, 2020, 01:038 GMT

At the moment, ETH’s price is up $0.44 (0.12%) from the hour prior. ETH has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. As for the trend on the hourly timeframe, we see the clearest trend on the 50 hour timeframe. Of note is that the 50 hour changed directions on ETH; it is now pointing up. 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 entered today at $359.86, down 0.02% ($0.06) from the day prior. This move happened on lower volume, as yesterday’s volume was down 27.02% from the day before — and down 52.12% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ethereum ended up ranking 3rd for the day in terms of price change relative to the day prior. The daily price chart of Ethereum below illustrates.

ETH

Ethereum Technical Analysis

Coming into today the current price of Ethereum is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For another vantage point, consider that Ethereum’s price has gone up 18 of the previous 30 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

Over on Twitter, here were the top tweets about Ethereum:

  • From Fiskantes:

    You who are buying ETH killer tokens with expectation that it will just bootstrap similar ecosystem to Ethereum in a year have no idea how hard this tech is.I am now playing with BSC and I feel like playing with Mist Browser for the first time in 2016 or so.This tech is hard.

  • From longvuong22:

    We use Infura for Ethereum’s requests. Got blocked for a few hours last night due to increasing traffics. It should be good now&no more problems with APY calculations. Voting module online in 12 hours. Then we can vote for next pools in. Next pools on Sunday? @LuaSwap

  • From krugman25:

    So many are so focused on making a quick buck, aping into stuff, rug pulls, that we missed the real story here which is Andre is working on an awesome @Ethereum based game. Potentially expanding the reach of @iearnfinance $YFI.This degen stupidity is getting tiresome #DeFi

As for a news story related to Ethereum getting some buzz:

Launch rehearsal for Ethereum 2.0 ‘90% successful’ despite participation issues

Spadina was proposed as a short-lived “dress rehearsal” for the mainnet launch process, signaling that Ethereum 2.0 Phase 0 is getting ever closer….Developers said that this is likely to be the last chance for prospective Ether (ETH) stakers to test the deposit and launch tools before the Phase 0 genesis.