Ethereum (ETH) Closes Prior Hour Down -0.75%; 2 Day Down Streak Broken

The Hourly View for ETH

Last Updated January 4, 2021, 01:017 GMT

At the time of this writing, Ethereum’s price is down $-7.36 (-0.75%) from the hour prior. The hourly chart shows that Ethereum has seen 3 straight down hours. Regarding the trend, note that the strongest trend 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

The back and forth price flow continues for Ethereum, which started today off at 774.9 US dollars, up 6.06% ($44.3) from yesterday. As for how volume fared, yesterday’s volume was up 114.61% from the previous day (Saturday), and up 96.54% from Sunday of the week before. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 3rd since yesterday in terms of percentage price change. Below is a 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. Or to view things another way, note that out of the past 14 days Ethereum’s price has gone up 9 them.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Ethereum for the past day were:

  • From n2ckchong:

    By far, one of the most interesting Ethereum addresses I’ve seen is @0x_b1. It’s quite an interesting social experiment as well – a $300m whale starting a Twitter account for fun. Check their bio.Let’s break down the address and see what they are doing with their capital. 👇

  • From digitalassetbuy:

    The narrative is that Bitcoin and Ethereum have been given LEGAL regulatory clarity. THEY HAVE NOT. Only the opinion of one SEC official at a Yahoo Conference. XRP could be the first to get LEGAL clarity.

  • From tbr90:

    I am so bullish on 2021 for DeFi and Ethereum…but I’ve had 4 friends and family reach out to me about investing in crypto for the first time in the last 2 days. Huge sign of bubble. We haven’t had a blow off top yet, but we may be closer to a peak than many think.

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

What Is Ethereum 2.0 And Why Does It Matter? | Binance Academy

The biggest differences between Ethereum and Ethereum 2.0 involve the use of the Proof of Stake (PoS) consensus mechanism, shard chains, and the beacon chain….The first phase, or phase 0, will be dedicated to the release of the beacon chain since it’s central to the functionality of shard chains….The next phase is actually a mix of two phases: phase 1 and phase 1.5. Phase 1 will introduce shard chains, which will allow validators to create blocks on the blockchain through PoS….The final phase will be phase 2, which is when Ethereum 2.0 will support fully formed shards and become the official Ethereum network….Ethereum 2.0 is an important upgrade to the Ethereum network for a number of reasons, especially when it comes to scalability.