Ethereum 4 Hour Price Update
Updated July 02, 2020 11:19 PM GMT (07:19 PM EST)
Ethereum came into the current 4 hour candle up 0.58% ($1.3) from the open of the previous 4 hours, marking the 2nd candle in a row it has gone up. Ethereum outperformed all 5 assets in the Top Cryptos asset class since the previous 4 hours.
Ethereum Daily Price Recap
The back and forth price flow continues for Ethereum, which started today off at 231.05 US dollars, up 2.42% ($5.47) from yesterday. The change in price came along side change in volume that was up 53.93% from previous day, but down 48.5% from the Wednesday of last week. On a relative basis, yesterday was pretty good: Ethereum bested all 5 of the assets in the Top Cryptos class 🙂 Here is a daily price chart of Ethereum.
Ethereum Technical Analysis
Coming into today Ethereum is now close to its 20 and 50 day moving averages, which may act as price barrier for the asset. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. 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. For additional context, note that price has gone down 9 out of the past 14 days.
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 iamDCinvestor:
The people who say “there’s no reason for $ETH go up in value, even if Ethereum becomes a global settlement layer and home of DeFi”……remind me a lot of the people who used to say “there’s no reason for AMZN stock to go up in value, because Amazon doesn’t make any money.”
- From zooko:
@renprotocol @DefiantNews @0x_Lucas @CamiRusso Prediction: in 10 years, nobody will use BTC on Bitcoin-blockchain — everyone will have migrated to using BTC on Ethereum-blockchain, but this will not increase the value of ETH. BTC will have skyrocketed to be worth $100,000 and ETH will still be worth about $200.
- From BlockchainNote:
Wow, all the 100M blocks are gone for the OTC sale, please do not deposit any more Ethereum into the address. I’ll refund the last few transactions and we can open up the sale for the 50M blocks soon. As ever, please check the OTC page and email later today for further info.
For a longer news piece related to ETH that’s been generating discussion, check out:
The Ethereum blockchain is similar to Bitcoin’s, although the data it stores – and the way it stores it – is different….The smart contracts that run on Ethereum are triggered by transactions (either from users or other contracts)….When a user sends a transaction to a contract, every node on the network runs the contract’s code and records the output….An Ethereum node can be anything from a simple mobile phone wallet application to a computer that stores an entire copy of the blockchain. All nodes work as a communication point somehow, but there are different types of nodes on the Ethereum network….To interface with the Ethereum network in a way that allows you to validate blockchain data independently, you need to run a full node using software like the ones mentioned above. The software will download blocks from other nodes and verify if the transactions included are correct….This means that anyone can run an Ethereum node and strengthen the network by validating transactions and blocks. Similarly to Bitcoin, there are a number of businesses that offer plug-n-play Ethereum nodes.