Ethereum (ETH) Closes Prior Hour Up 0.42%; Heads Down For the 2nd Consecutive Day

The Hourly View for ETH

Last Updated January 2, 2021, 02:048 GMT

Currently, ETH’s price is up $3.06 (0.42%) from the hour prior. This is the 2nd hour in a row ETH has seen its price head up. As for the trend on the hourly timeframe, we see the clearest trend on the 20 hour timeframe. Regarding moving averages, it should first be noted that price has crossed the 100 and 20 hour moving averages, resulting in them so that price is now turning above them. 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 0.89% ($6.55) from the open of the previous day, marking the 2nd consecutive day a decline has happened. The price move occurred on volume that was down 20.87% from the day prior, but up 9.56% from the same day the week before. Those trading within the Top Cryptos asset class should know that Ethereum was the worst performer in the class during the previous day. Let’s take a look at the daily price chart of Ethereum.

ETH

Ethereum Technical Analysis

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. For another vantage point, consider that Ethereum’s price has gone up 9 of the previous 14 trading days.

Overheard on Twitter

Behold! Here are the top tweets related to Ethereum:

  • From sassal0x:

    My 2021 predictions for Ethereum:- $ETH will outperform $BTC
    – Non-USD stablecoins will gain traction
    – Layer 2 adoption will skyrocket
    – EIP-1559 will go live
    – eth2 phase 1 will go live
    – DeFi tokens will replace most of the dead coins in the top 30

  • From iamDCinvestor:

    Points about #Ethereum $ETH many don’t get (yet):- It’s an asset layer, not just an app layer
    – ETH is the best programmable store of value money for DeFi
    – ETH supply is hardening (fee burn + low issuance from PoS)
    – L2 will scale Ethereum for a broad range of apps this year

  • From sassal0x:

    Happy New Years everyone :)As a new year gift to all Ethereans, I’m announcing today that @thedailygwei ecosystem will *never* have sponsors/ads on the daily newsletter or the entire YouTube channel.I’ll keep producing free Ethereum content until I drop dead or go crazy 🤪

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

Litecoin’s MimbleWimble Code Will Be Ready by Q1 of 2021 – Ethereum World News

Check out the latest breaking news and updates of Bitcoin (BTC)….— David Burkett (@DavidBurkett38) December 28, 2020 Mr. Burkett also explained that the activation timeline will be decided by the Litecoin community as well as LTC miners.