The Hourly View for ETH
Last Updated June 2, 2021, 04:017 GMT
Currently, Ethereum’s price is up $10.43 (0.4%) from the hour prior. Ethereum has seen its price go up 4 out of the past 5 hours, thus creating some compelling opportunities for bulls. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Of note is that the 20 and 200 hour changed directions on ETH; they are now pointing up. 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 back and forth price flow continues for Ethereum, which started today off at 2634.23 US dollars, down 2.7% ($73.15) from yesterday. This move happened on lower volume, as yesterday’s volume was down 13.79% from the day before — and down 51.93% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 4th since yesterday in terms of percentage price change. Let’s take a look at the daily price chart of Ethereum.
Ethereum Technical Analysis
Volatility for Ethereum has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Or to view things another way, note that out of the past 10 days Ethereum’s price has gone up 5 them.
Overheard on Twitter
Over on Twitter, here were the top tweets about Ethereum:
- From RyanSAdams:
Why I’m Bullish ETH🚀 = Layer 2 is here, it’s awesome (this summer)🚀🚀 = EIP 1559, fees go to ETH holders (July)🚀🚀🚀 = PoS Merge, issuance down, goes to stakers (Q1 2022)DeFi goes mainstream, Ethereum scales, ETH becomes ultra sound money…all in the next 9 months.
- From AXIlIXA:
$ETH went from $80 to $4k in a years time.If you don’t think $LINK can make a move to even a fraction of that scale, then you are mistaken. I understand the differences between Ethereum and Chainlink but also recognize the similarities of a large scale network effect they share
- From santiagoroel:
Could DeFi be built on Bitcoin? Maybe. Is DeFi being built on Ethereum? Yes.The first is trying to predict the future. The second is understanding the present. Investing in the present when others are too focused chasing future narratives creates asymmetric opportunities.
For a longer news piece related to ETH that’s been generating discussion, check out:
EIP-1559 is a proposed change to the way users pay gas fees on the Ethereum network….But after the London update, you will no longer need to select the gas price you pay when making Ethereum transactions.