Ethereum (ETH) Closes Prior Hour Down -0.13%; in an Uptrend Over Past 14 Days, Moves Up For the 8th Day In A Row, Pin Bar Pattern Appearing on Chart

The Hourly View for ETH

Last Updated May 4, 2021, 02:017 GMT

At the moment, Ethereum’s price is down $-4.14 (-0.13%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 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 came into today up 0.14% ($4.18) from the open of the day prior, marking the 8th day in a row an increase has occurred. This move happened on lower volume, as yesterday’s volume was down 23.63% from the day before — and down 35.56% 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 the day prior. Here is a daily price chart of Ethereum.

ETH

Ethereum Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. Or to view things another way, note that out of the past 10 days Ethereum’s price has gone up 8 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

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 vakeraj:

    The persistence of the Ethereum scam is that the scam is so blatant, right out in the open for anyone to see. They don’t bother hiding the 70% premine, or the DAO hack rollback, or the hundreds of failed ICOs. They just pretend it never happened, like some collective amnesia.

  • From TheADAApe:

    Smart contracts will be live on #cardano in Q3 2021.#ethereum won’t move to PoS until 2022. When it does move, many contracts will be hacked and/or break shortly after.Feel free to check back. $ADA $ETH

  • From arbitrum:

    @OKEx @OKEx users will be able to withdraw Ether and tokens they purchased on the exchange directly onto Arbitrum, and deposit assets they hold on Arbitrum directly onto @OKEx; no expensive L1 transaction required. Smooth UX for Ethereum L2 is coming!

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

Ethereum (ETH) | Binance Research

The state of Ethereum is updated by the addition of each new block….Based on 256-bit word format, the EVM has a simple stack-based architecture with multiple data components: An ERC-20 token is a token that implements a standardized interface defined in EIP-20….Validators are expected to become active on Ethereum 2.0 upon completion of a valid deposit (~32 ETH) from the 1.0 chain into a new smart contract, along with a waiting period….Ethereum’s development has been distributed with multiple teams and individuals involved in the development of Ethereum.