Ethereum (ETH) Price Near $1,069.63; Moves Down For the 2nd Day In A Row, in an Uptrend Over Past 14 Days

The Hourly View for ETH

Last Updated January 12, 2021, 03:017 GMT

At the moment, Ethereum’s price is down $-0.35 (-0.03%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 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 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. Of note is that the 20 hour changed directions on ETH; it is now pointing down. 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 came into today down 13.33% ($167.35) from the open of the previous day, marking the 2nd day in a row a decrease has occurred. The price move occurred on stronger volume; specifically, yesterday’s volume was up 98.43% from the day prior, and up 30.25% 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 the previous day. The daily price chart of Ethereum below illustrates.


Ethereum Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 7 out of the past 10 days.

Overheard on Twitter

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

  • From ErikVoorhees:

    My hope for 2021 is that the the Bitcoin maxis stop smelling their own farts, the Ethereum maxis stop daydreaming of rainbows and pickles, the “number go up” noise goes down, and everyone in crypto realizes this shit’s starting to get real. Build, focus, plan, and cooperate.

  • From bradmillscan:

    Ethereum & Uniswap suck balls.Trying to buy the #Bitcoin dip on Uniswap and I got 3 failed transactions in a row with $60 fees…When an Ethereum transaction fails, you don’t get the fee back.Ethereum is the worst blockchain that exists, bar none.Try using it. $180 poof.

  • From RichardHeartWin:

    #Ethereum Protip. When trading ETH on #Uniswap you can save lots on gas by using wrapped ETH (WETH) instead of ETH. Then you can unwrap it later for free when you like.This is because all ETH is wrapped and unwrapped in and out of uniswap for simpler code. Downside is gas cost

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

What Is Ethereum 2.0 And Why Does It Matter? | Binance Academy

The biggest differences between Ethereum and Ethereum 2.0 involve the use of the Proof of Stake (PoS) consensus mechanism, shard chains, and the beacon chain….The first phase, or phase 0, will be dedicated to the release of the beacon chain since it’s central to the functionality of shard chains….The next phase is actually a mix of two phases: phase 1 and phase 1.5. Phase 1 will introduce shard chains, which will allow validators to create blocks on the blockchain through PoS….The final phase will be phase 2, which is when Ethereum 2.0 will support fully formed shards and become the official Ethereum network….Ethereum 2.0 is an important upgrade to the Ethereum network for a number of reasons, especially when it comes to scalability.