Ethereum (ETH) Closes Prior Hour Down -0.56%; Moves Up For the 3rd Consecutive Day, Pin Bar Pattern Appearing on Chart, in an Uptrend Over Past 14 Days

The Hourly View for ETH

Last Updated April 7, 2021, 04:017 GMT

At the time of this writing, Ethereum’s price is down $-11.88 (-0.56%) from the hour prior. The hourly chart shows that Ethereum has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 50 hour moving average, resulting in them with price now being below it. 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 0.22% ($4.56); this denotes the 3rd consecutive day it has gone up. The price move occurred on stronger volume; specifically, yesterday’s volume was up 35.77% from the day prior, and up 68.35% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ethereum ended up ranking 5th for the day in terms of price change relative to yesterday. Here is a daily price chart of Ethereum.

ETH

Ethereum Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 30 days Ethereum’s price has gone up 18 them. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

Behold! Here are the top tweets related to Ethereum:

  • From NourHaridy:

    Ethereum is by far the most powerful tool mankind has built in hundreds of yearsIt is the first real chance for individuals to reshape the rules of the world from scratchDo you want to be rich or do you want to change the path of humanity?

  • From 27bslash6:

    It’s an odd planet at the moment, isn’t it? If ten years ago someone had said to me, “It’s lucky Jane rejected your drawing of a seven-legged spider because one day it will be worth 1 Ethereum as a non-fungible token.”, I would have replied, “Okay, Mr Spock, easy on the meds.”

  • From BalancerLabs:

    We would like to be clear: Balancer Labs issued a small $5K grant to @Algorand as a symbolic gesture of support. The Balancer Labs team has zero involvement in the development of this project. Our attention is solely focused on Ethereum and the upcoming launch of Balancer V2.

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

Key Ethereum Researchers Vote to Ship Proof-of-Stake in 2021 | Crypto Briefing

Don’t Miss Market Moving News Ethereum looks set to launch Proof-of-Stake this year.  Ethereum could ship Proof-of-Stake before the year is out.  Justin Drake, one of the researchers working on Ethereum 2.0, shared a poll earlier today, showing that 86% of those he surveyed are in favor of fast-tracking the update to launch in 2021….The proposal inspired Drake to coin the term “ultrasound money” to refer to ETH, and it’s been embraced by other Ethereum believers in recent weeks. Drake explained that EIP-1559, along with proof-of-stake, will bring major improvements to Ethereum….You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice.