Ethereum (ETH) Closes Prior Hour Down 0%; Heads Up For the 4th Straight Day

The Hourly View for ETH

Last Updated April 29, 2021, 03:017 GMT

At the moment, Ethereum’s price is down $0.07 (0%) from the hour prior. Ethereum has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on Ethereum. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. 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 is up 3.11% ($82.98) since yesterday, marking the 4th straight day an increase has occurred. As for how volume fared, yesterday’s volume was up 40.25% from the previous day (Tuesday), and up 12.12% from Wednesday of the week before. Ethereum outperformed all 7 assets in the Top Cryptos asset class since yesterday. Congrats to its holders! Here is a daily price chart of Ethereum.

ETH

Ethereum Technical Analysis

The clearest trend exists on the 30 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 20 them.

Overheard on Twitter

Behold! Here are the top tweets related to Ethereum:

  • From TheCryptoCactus:

    I remember when $ETH hitting $3000 was a dream and in 2019 I tweeted that it ETH ever hits that value I would host a ‘Ethereum Buyers Club’ party…The good thing about dreams is that they become real with enough belief.Party incoming…

  • From santiagoroel:

    There’s a reason why Visa is settling on Ethereum over other chainsEnd user may not care where their order gets routed but their aggregator/financial institution will most definitely choose the most secure & efficient path. Security attracts capital/liquidity > better execution

  • From matt96276480:

    So many crypto noobs dream of having had the chance to buy amazing projects like #Ethereum at 10$, they buy it at almost 3000$, yet the very same reason they never invested into $ETH at 10$ years ago, is the same reason why they won’t buy $atom at 20$. Lack of knowledge, and fear

For a longer news piece related to ETH that’s been generating discussion, check out:

Why There Is Now More Tether on Tron Than Ethereum – Decrypt

And with so many people using Ethereum, the cost of making a transaction is high.  So, users are switching to the Tron network….“The Tron network is very cheap to use in comparison.” Ong told Decrypt that moving Tether about—from one exchange to another—is very common, and doing that on Ethereum’s blockchain is costly.