The Hourly View for ETH
Last Updated May 12, 2021, 00:017 GMT
Currently, Ethereum’s price is down $-12.16 (-0.29%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
Ethereum Daily Price Recap
Ethereum is up 0.58% ($22.71) since the previous day, marking the 3rd straight day an increase has occurred. The price move occurred on stronger volume; specifically, yesterday’s volume was up 98.41% from the day prior, and up 31.64% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ethereum ended up ranking 2nd for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of Ethereum.
Ethereum Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 7 out of the past 10 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.
Overheard on Twitter
Behold! Here are the top tweets related to Ethereum:
- From RyanBerckmans:
Yesterday, ethereum did $89M in transaction fees, the most ever in one day.That’s an annual run rate of $32.5B in fees.EIP-1559 is estimated to burn ~70% of fees and would have burned $62M in ETH yesterday. EIP-1559 launches in a little over two months.
- From TheADAApe:
At this point, when someone from #ethereum talks down to #cardano by asking “yeah but where are the working smart contracts?” You can just say “I was going to ask you the same thing.” Ethereum is literally broken. #cardano is already on PoS with more staked. It’s ahead of $ETH.
- From PrestonPysh:
full node on Ethereum, it’s not straightforward. As Vitalik says, “Like, I, for example, am definitely unhappy with the fact you know that Metamask for example is just a client that directly talks to Infura, but whatever.” Many people in the ETH crowd will tell you that a 3/
In terms of news links for Ethereum here’s one to try:
Third-Party Ethereum Node Operators Bitcoin has been designed to make running a full node take up relatively little space….Much like how other monetary tokens have not been able to take market share from Bitcoin’s expansive network effect, these smart contract protocols are much, much smaller than Ethereum….Despite the Ethereum blockchain being far younger than the Bitcoin blockchain, the amount of space required to run a full node for the Ethereum blockchain is already larger than a Bitcoin full node, since it grows more rapidly per unit of time….Ethereum developers wanted to avoid some of the issues of altcoins that try to increase throughput by making every node hard to run, so they wanted to make a spectrum of nodes to give users different levels of validation, which is about as good as can be done when this much complexity is being built into the base layer of the protocol….However, running validators is a good incentive for Ethereum investors to hold the tokens for the long-term on Ethereum 2.0. They can hoard tokens and take them to validation to earn a yield of more tokens….Being a utility token does not preclude Ethereum from also being a monetary token, if sufficient investor demand for Ethereum tokens exists for staking and collateral.