Ethereum (ETH) Closes Prior Hour Up 0.57%; Heads Up For the 3rd Straight Day

The Hourly View for ETH

Last Updated January 5, 2021, 03:017 GMT

Currently, Ethereum’s price is up $6.12 (0.57%) from the hour prior. Ethereum 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 20 hour changed directions on ETH; it is now pointing up. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Ethereum Daily Price Recap

Ethereum closed yesterday up 6.59% ($64.47); this denotes the 3rd straight day an increase has occurred. As for how volume fared, yesterday’s volume was up 47.98% from the previous day (Sunday), and up 276.46% from Monday of 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. Below is a daily price chart of Ethereum.

ETH

Ethereum Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 14 days Ethereum’s price has gone up 11 them.

Overheard on Twitter

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

  • From crypt0snews:

    $1k ETH!
    It was a dream to believe it would be this price (and much higher) when I first began researching, mining, and buying it at $10.00. Eventually, I started a YouTube channel called “Ethereum News”, to raise more awareness.How far we’ve come, as dreams become reality!

  • From RichardMcCrackn:

    @erikwill I think Cardano tech will exceed Ethereum by the end of 2021. Based on launching the ITN a year ago, and the advantage of having a hard fork combinator in place, Cardano is about 1 year ahead of ETH 2.0 in tech imho.Hard to measure how far ahead Cardano research is beyond ETH.

  • From Padierfind:

    #Ethereum has a huge scalability problem. Now that more people are buying, the transaction fees are also skyrocketing. That leads to all dApps being basically unusable. Serious DeFi on Ethereum is currently not possible. Focus on better tech, not short term gains. #Cardano

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

Ethereum price spikes to $1,161 for the first time in three years: What’s next?

According to data from Glassnode, the futures funding rate of Ethereum is averaging 0.2% across major exchanges….The trader also similarly expressed concerns regarding the high funding rate of Ethereum and suggested that they would have to reset.