Ethereum (ETH) Price Near $1,493.44; Crosses 50 Day Moving Average, But Still in a Downtrend Over Past 14 Days, Price Base in Formation Over Past 30 Days

The Hourly View for ETH

Last Updated March 3, 2021, 00:017 GMT

Currently, Ethereum’s price is up $4.45 (0.3%) from the hour prior. The hourly chart shows that Ethereum has seen 3 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 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

The choppiness in the recent daily price action of Ethereum continues; to start today, it came in at a price of 1571.49 US dollars, up 10.47% ($148.91) since the previous day. This move happened on lower volume, as yesterday’s volume was down 23.88% from the day before — and down 54.61% from the same day the week before. Ethereum outperformed all 7 assets in the Top Cryptos asset class since the previous day. Congrats to its holders! 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. Also of note is that on a 30 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 16 them. Price action traders may also wish to note the presence of a bullish engulfing pattern in the midst of the downtrend on the 14 and 90 day charts, which may signal the trend is concluding.

Overheard on Twitter

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

  • From zhusu:

    Here’s what’s generally needed for #Ethereum L2 mass adoption: h/t @Rewkang- metamask preset L2 and UX improvements for L2
    – Exchanges allowing direct withdrawal to L2
    – L2 to L2 and L2 to L1 efficient value transfer bridgesAny others missing?

  • From matiwinnetou:

    Developers from Ethereum and Polkadot have this bizarre opinion that they should test in production with our own money. F*** that.I much prefer devnet approach of Cardano, test there, without real money until it is stable, bug free and formally verifiable – then release it.

  • From Trader_XO:

    As a developer I missed out on the early phases of Ethereum and Solidity smart contract development back in 2016/17. I played around but never kept at it.I’m not missing out on the opportunity of exploring Polkadot / Substrate with Rust and WASM!Dev passion re-ignited!

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

Full Ethereum Compatibility, Hack the System, February Update | by Li Jiang | Harmony | Mar, 2021 | Medium

We demonstrated how any developer can port an app to Harmony with the same Ethereum tooling and how they can take advantage of cross-chain assets….Come scale your Ethereum applications on Harmony with 2-second finality and low fees….February was another month of building with partners and developers to scale our cross-chain finance ecosystem.