Ethereum (ETH) Closes Prior Hour Up 1.05%; But Still in a Downtrend Over Past 14 Days, 3 Day Down Streak Snapped, Bullish Engulfing Pattern in Play

The Hourly View for ETH

Last Updated July 22, 2021, 03:017 GMT

At the moment, Ethereum’s price is up $20.61 (1.05%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. Regarding the trend, note that the strongest trend exists on the 20 hour timeframe. 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

The end of a 3 day negative run has come for Ethereum, which finished yesterday up 11.67% ($208.46). The change in price came along side change in volume that was down 1.25% from previous day, but up 47.09% from the Wednesday of last week. Ethereum outperformed all 7 assets in the Top Cryptos asset class since yesterday. Let’s take a look at the daily price chart of Ethereum.

ETH

Ethereum Technical Analysis

Notably, the current price of Ethereum is sitting close to its 20 and 200 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 14 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 14 days Ethereum’s price has gone down 9 them. Candlestick traders will also want to note that we are seeing a bullish engulfing pattern amidst the downtrend on the 14 and 90 day charts; a bullish engulfing pattern amidst a downtrend may signal the downtrend is ready to culminate.

Overheard on Twitter

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

  • From kezmenneke99:

    For crypto newbies 💡
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  • From OrionDepp:

    Giving Away $2500 in @ethereum $ETH to 1 Lucky Winner! To Enter you MUST:1) Follow ALL 3 Twitter handles
    1) @OrionDepp
    2) @Orion__Research (Access to IDOs & New Coins)
    3) @Orion__Trading (50x+ Potential Trades)2) Retweet this Tweet!Winner announced on 9/3/21!

  • From itsALLrisky:

    Elon gold nuggets from #TheBWord so far:”I’ve thought about money for quite a while obviously since the PayPal days””In general, I am a supporter of Bitcoin””I do personally own a bit of Ethereum and Dogecoin of course” – @ElonMusk #TheDWord $DOGE $BTC $ETH

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

‘Ethereum: The Infinite Garden’ Documentary Project Raises 1,036 Ether – Bitcoin News

“Ethereum: The Infinite Garden,” a project that aims to produce the first documentary about how the smart contracts project was conceived, fulfilled the goal of its recent fundraising campaign….What do you think about the “Ethereum: The Infinite Garden” documentary?