Ethereum (ETH) Closes Last Hour Down $-1.38; Moves Down For the 2nd Day In A Row, in an Uptrend Over Past 14 Days

The Hourly View for ETH

Last Updated December 22, 2020, 03:017 GMT

At the time of this writing, Ethereum’s price is down $-1.38 (-0.23%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as Ethereum has now gone down 4 of the past 5 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 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 is down 4.74% ($30.27) since the previous day, marking the 2nd day in a row a decline has happened. The price move occurred on stronger volume; specifically, yesterday’s volume was up 57.52% from the day prior, and up 200.1% 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 the previous day. Here is a daily price chart of Ethereum.

ETH

Ethereum Technical Analysis

The first thing we should note is that Ethereum is now close to its 20 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 8 out of the past 14 days.

Overheard on Twitter

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

  • From RichardHeartWin:

    I used to be hard on #Ethereum. #ETH got better and better and I now say wonderful things about it. Lots of people were hard on #HEX. Now they’re saying nice things about it. Smart people keep updating their opinions as new evidence presents itself. Technology keeps progressing!

  • From udiWertheimer:

    bitcoin is now seen by the elite as a hedge against inflation.to remain competitive, the ethereum community would do well to make eth inflation-resistant too.why don’t they do this? because it’s PHYSICALLY IMPOSSIBLE.no altcoin can do this. it has nothing to do with code.

  • From ricburton:

    2017: Buy my token and I promise I will create something valuable at some point on Ethereum2021: I have created something valuable on Ethereum which will now be controlled by a tokenThis shift is enormousUseful software services are being deployed and managed by tokens

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

Ether Sale: A Statistical Overview | Ethereum Foundation Blog

The first two weeks of the ether sale are over, and we have to date received over 25000 BTC from selling over 50 million ETH….The portions in which the endowment is planned to be distributed are on the spreadsheet; the largest is equal to 0.922% of all ether purchased (ie….Note that Gini coefficients of wealth and Gini coefficients of income are different things; one measures how much people have and one measures the rate at which people receive.