The Hourly View for ETH
Last Updated June 7, 2021, 02:017 GMT
At the time of this writing, Ethereum’s price is down $-4.6 (-0.16%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. 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 2.28% ($61.41) from the open of yesterday, marking the 2nd day in a row a decrease has occurred. This move happened on lower volume, as yesterday’s volume was down 18.55% from the day before — and down 40.45% from the same day the week before. On a relative basis, yesterday was pretty good: Ethereum bested all 7 of the assets in the Top Cryptos class 🙂 Below is a daily price chart of Ethereum.
Ethereum Technical Analysis
Coming into today Ethereum is now close to its 20 day moving averages, which may act as price barrier for the asset. 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down. Or to view things another way, note that out of the past 10 days Ethereum’s price has gone down 6 them.
Overheard on Twitter
Over on Twitter, here were the top tweets about Ethereum:
- From TheCryptoLark:
No one knows why Satoshi left #bitcoin. Maybe he died, maybe he is in prison, maybe he just didn’t want the spotlight. But I for one would love him to still be here! Having a competent front man like Vitalik I see as a big positive for #ethereum, and it would be for BTC too
- From TheCryptoLark:
Another issue with El Salvador is #bitcoin is super volatile, which we love, but it’s very impractical for day to day use. Imagine not being able to pay rent or buy food for your kids because Elon Musk tweeted some crap… Like it or not, $usdc running on #ethereum L2 is better
- From maxotg_:
I’m starting to see people pull up a video I made about the top 5 worst cryptos, and the first one I listed was dogecoin. I said doge for complete shock value 😂 Doge was the first memecoin, and now it is building on top of flare network and ethereum.
In terms of news links for Ethereum here’s one to try:
“The mission, made possible by Nanoracks and its Space Act Agreement with NASA, marks SpaceChain’s fourth blockchain payload launch into space and the first demonstration of Ethereum technology integration into its hardware on ISS,” SpaceChain shared in a press release….With Ethereum’s smart contract platform running in outer space, it enables us to fortify blockchain applications and transactions with enhanced security and immutability, and allows more users and developers to get involved with our technology.” Once the space node is activated it will enable SpaceChain customers to enhance their Ethereum transactions and widespread blockchain capabilities for enterprise business.