Ethereum (ETH) Closes Prior Hour Down -1.04%; Moves Down For the 2nd Consecutive Day

The Hourly View for ETH

Last Updated May 29, 2021, 02:045 GMT

Currently, ETH’s price is down $-26.38 (-1.04%) from the hour prior. ETH has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 200 hour moving average has been crossed, so that price is now turning below it. 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 is down 12.04% ($330.12) since the previous day, marking the 2nd consecutive day it has gone down. The change in price came along side change in volume that was up 49.81% from previous day, but down 27.49% from the Friday of last week. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 6th since the previous day in terms of percentage price change. Below is a daily price chart of Ethereum.

ETH

Ethereum Technical Analysis

Notably, Ethereum is now close to its 100 day moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 10 days Ethereum’s price has gone down 6 them.

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 Crypto___Oracle:

    @asiahodl @arbitrum @optimismPBC @StarkWareLtd I disagree. Arbitrum already has a bigger community than the rest without a token. And its community is only accelerating because the Ethereum and Chainlink communities have rallied behind it and they have the biggest communities in the space and their own tokens.

  • From justinjmoses:

    There’s a lot of frustration with the delay behind Optimism’s rollout. I get it. Yet they are working with some of the most accomplished teams in Ethereum, porting complex code. They are finding and squashing compatibility bugs now rather than leaving them for you to discover!

  • From AutismCapital:

    If the majority of the world’s “productive asset” wealth becomes increasingly digital and mobile, when do nations begin competing for our citizenship? What incentive does an Ethereum Validator have to be in the US? Or any Crypto citizen? None. When will governments compete for us

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

Aurora is NEAR’s EVM solution for Ethereum apps to scale.

We’re excited to announce that NEAR has been deployed as an ERC-20 token on the Ethereum network, making it immediately available for trading and productive use within the exploding Ethereum DeFi ecosystem….Moving the NEAR token between Ethereum and the NEAR Protocol is facilitated by the Rainbow Bridge.