Ethereum (ETH) Price Near $389.04; in an Uptrend Over Past 30 Days, is Inching Close to 20 Day Average, 3 Day Down Streak Snapped

The Hourly View for ETH

Last Updated November 1, 2020, 01:036 GMT

At the moment, ETH’s price is up $1.96 (0.51%) from the hour prior. The hourly chart shows that ETH has seen 2 straight up hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 100 and 20 hour moving averages have been crossed, so that price is now turning above them. 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 1.05% ($4) since the previous day, marking a reversal from the day prior — and the end of a 3 day negative run. The change in price came along side change in volume that was down 39.35% from previous day, but up 13.65% from the Saturday of last week. Out of the 7 instruments in the Top Cryptos asset class, Ethereum ended up ranking 4th for the day in terms of price change relative to the previous day. Below is a daily price chart of Ethereum.

ETH

Ethereum Technical Analysis

Notably, the current price of Ethereum is sitting close to its 20, 50 and 100 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 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days.