Ethereum (ETH) Closes Prior Hour Down -0.23%; Heads Down For the 2nd Consecutive Day, Makes Big Move Relative to Two Week Trend, Price Base in Formation Over Past 14 Days

The Hourly View for ETH

Last Updated February 25, 2021, 00:017 GMT

At the time of this writing, Ethereum’s price is down $-3.76 (-0.23%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. 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 closed yesterday down 11.24% ($199.88); this denotes the 2nd consecutive day it has gone down. The price move occurred on stronger volume; specifically, yesterday’s volume was up 44.14% from the day prior, and up 254.19% 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 yesterday. Let’s take a look at the 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. 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. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that Ethereum’s price has gone up 7 of the previous 14 trading days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Ethereum for the past day were:

  • From BullyEsq:

    Sometimes I feel like I’m the only person in crypto who holds both bitcoin AND ethereum. They are such different assets, each with fundamentally different value props. After all this time in the space, I truly can’t get my head around the tribalism from both camps.

  • From sassal0x:

    I still don’t think people realise how amazing it is to have @mcuban as a spokesperson for Ethereum – especially since he actually understands the technology on a very deep level.Listening to him on both @DefiantNews and @BanklessHQ just makes me so much more bullish on $ETH.

  • From QwQiao:

    No Ethereum Killer will be able to kill Ethereum. Ethereum’s network effect and talent base is too strong. It’s the arrogance of those maxis that mindlessly ignore competitors and lack any sense of urgency that will kill Ethereum.

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

Ethereum Developers Eye July for Gas-Saving EIP-1559 Launch – BeInCrypto

Ethereum Improvement Proposal (EIP) 1559 has been the most talked-about upgrade for the network since ETH 2.0 was launched on Dec….The EIP tackles the debilitating problem of high transaction fees which have strained the network in recent months….Join our Telegram Group and get trading signals, a free trading course and daily communication with crypto fans!