Ethereum (ETH) Price Near $2,686.79; in a Downtrend Over Past 30 Days, 2 Day Up Streak Ended

The Hourly View for ETH

Last Updated June 3, 2021, 02:017 GMT

Currently, Ethereum’s price is up $14.37 (0.54%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists 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

2634.23 (USD) was the opening price of the day for Ethereum, resulting in yesterday being one in which price moved down 2.7% ($73.15) from yesterday. This move happened on lower volume, as yesterday’s volume was down 13.79% from the day before — and down 51.93% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ethereum ended up ranking 4th for the day in terms of price change relative to yesterday. Below is a daily price chart of Ethereum.

ETH

Ethereum Technical Analysis

Volatility for Ethereum has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. For additional context, note that price has gone down 16 out of the past 30 days.

Overheard on Twitter

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

  • From bradmillscan:

    #Bitcoin + layer 2 is TCP/IP
    Ethereum is AOL
    DeFi is the Dot Com Bubble 2.0The next 2 years might be bananas for altcoin prices, but in 10 years, bitcoin will be still be the only truly decentralized & government-resistant network of trust in a world without it.Save in sats.

  • From iamDCinvestor:

    fwiw, i have no religious allegiance to #Ethereumi simply feel that it is the most decentralized programmable blockchain todayand $ETH is the best programmable store of value crypto assetif something better is proven on either dimension, i’ll be the first to pay attention

  • From econoar:

    The 3 things I’ve been most excited for in Ethereum’s history are happening within the next year.-EIP-1559
    -L2 launch and adoption
    -Ethereum running on PoSEthereum in 2022 is going to be such an enjoyable experience.

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

What Is the Ethereum London Hard Fork? | Binance Academy

EIP-1559 is a proposed change to the way users pay gas fees on the Ethereum network….But after the London update, you will no longer need to select the gas price you pay when making Ethereum transactions.