Ethereum (ETH) Closes Last Hour Down $-15.02; Heads Up For the 6th Straight Day, in an Uptrend Over Past 14 Days, Pin Bar Pattern Appearing on Chart

The Hourly View for ETH

Last Updated January 8, 2021, 22:17 GMT

At the moment, Ethereum’s price is down $-15.02 (-1.26%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Of note is that the 50 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 is up 1.23% ($14.91) since yesterday, marking the 6th straight day an upward move has occurred. The change in price came along side change in volume that was down 30.52% from previous day, but up 382.48% from the Thursday of last week. Out of the 7 instruments in the Top Cryptos asset class, Ethereum ended up ranking 3rd for the day in terms of price change relative to yesterday. Below is a daily price chart of Ethereum.

ETH

Ethereum Technical Analysis

The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For another vantage point, consider that Ethereum’s price has gone up 8 of the previous 10 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

Behold! Here are the top tweets related to Ethereum:

  • From FlareNetworks:

    Flare will be integrating Litecoin ahead of the Flare network launch in Q2. This will allow LTC to be used trustlessly on Flare with Ethereum style smart contracts and gives LTC interoperability and composability. #LTC #Unlockingvalue @LTCFoundation @litecoin /1 of 2

  • From iamjosephyoung:

    A thread!One of the richest Ethereum addresses is @0x_b1. They have ~99.9% of $300M+ deployed in various DeFi protocols. My friend @n2ckchong did an analysis of the farms they are involved in. Let’s take a look at which coins they are particularly interested in.👇 (1/8)

  • From OGM_Digital:

    #Ethereum ATH is $1400 – Current price ($1210) is 16% off this level.#litecoin ATH is $360 – Current price ($170) needs to rise by 111% to reach this.#DigiByte ATH is $0.13 – Current price ($0.032) needs to rise by 306% to reach this.I believe all 3 will retest their ATHs.

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

Scalable & Low Cost Computation of Ethereum Smart Contracts Using Arbitrum, on the Chainlink Network | by Ed Felten | Offchain Labs | Medium

With Chainlink node operators now able to operate as validators of Arbitrum’s secure off-chain computation protocol, developers can build smart contracts using an entirely new approach to secure off-chain computation, providing previously inaccessible scalability for running Solidity, and extreme improvements in cost efficiency….Combining Arbitrum’s unique trust-minimized smart contracts together with Chainlink’s high quality node network as secure validators of those computations, as well as their ability to create secure connections to key external resources, provides a greatly improved, more scalable, and extremely cost efficient off-chain development stack for smart contracts….Arbitrum supports secure smart contracts using an off-chain protocol that gives smart contract developers the flexibility to move most of the work of smart contract execution off-chain, to nodes running the Arbitrum protocol, while maintaining the trustless security of Ethereum….As the value of an Arbitrum off-chain computation increases, developers can always add Chainlink oracles/node operators to increase the number of validators securing their specific computation’s overall security….Putting it together, decentralized networks of Chainlink nodes running Arbitrum can validate a solidity smart contract, retrieve external data inputs, scalably compute the smart contract with associated correctness guarantees, push these contract outputs and proofs on-chain, and send a provable result to the user’s on-chain contract once the arbitration period has ended.