Ethereum (ETH) Up $0.77 in Last 4 Hours, Outperforms All Top Cryptos to Start the Day; Moves Up For the 2nd Day In A Row

Ethereum 4 Hour Price Update

Updated June 30, 2020 11:20 PM GMT (07:20 PM EST)

Ethereum entered the current 4 hour candle at $225.77, up 0.34% ($0.77) from the previous 4 hours. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 2nd for the four-hour candle in terms of price change relative to the previous 4 hours.

Ethereum Daily Price Recap

Ethereum closed the day prior up 1.28% ($2.87); this denotes the 2nd day in a row an increase has occurred. The price move occurred on volume that was up 14.75% from the day prior, but down 54.1% from the same day the week before. On a relative basis, the day prior was pretty good: Ethereum bested all 5 of the assets in the Top Cryptos class 🙂 The daily price chart of Ethereum below illustrates.

Ethereum Technical Analysis

Notably, the current price of Ethereum is sitting close to its 20 and 50 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 90 day timeframe, which shows price moving up over that time. Interestingly, a trend in the other direction exists on the 30 day timeframe, where price is headed down. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. 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

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

  • From DegenSpartan:

    plenty of non-DeFi users equating the attack on the non-standard weirdass semi-ponzi $STA token pool that was on @BalancerLabs to mean that 1) all code on Ethereum is inherently and perennially flawed
    2) defi is a scam / defi does not workthis is called information asymmetry

  • From iamDCinvestor:

    It’s not hard to understand:Fee burning / EIP-1559 would take the unprecedented & growing demand to use Ethereum (observed through fees paid) and turn it into a fundamental value driver for ETH.This means possible price appreciation for ETH, and greater security for Ethereum.

  • From VinnieH83:

    @cz_binance @binance (1/4) @HTMLCOIN started in 2014 as a Bitcoin clone & in 2017 upgraded to a hybrid of Bitcoin Core with an Ethereum abstraction later.
    What makes HTMLCOIN & its blockchain worth your time is not the tech alone but the team behind it.

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

How Bitfinex Overcomes Ethereum Congestion With The OMG Network

The OMG Network is the most efficient transaction strategy for Ethereum today….Because all token and Ether transactions are batched together in a single transaction, Ethereum gas costs drop dramatically for OMG Network users….OMG Network transactions are as secure as Ethereum itself, because user funds are never moved from the Ethereum smart contract….The OMG Network operates as the transaction signer for the contract, meaning every transaction on the OMG Network is relayed to mainnet at each block….Users sign their OMG Network transactions using the same address and key-pair they use on Ethereum.