Ethereum (ETH) Up $0.54 in Last 4 Hours, Started Today Down 1%; Nears 50 Day Moving Average

Ethereum 4 Hour Price Update

Updated July 01, 2020 11:19 PM GMT (07:19 PM EST)

Ethereum closed the last 4 hour candle up 0.23% ($0.54); this denotes the 5th candle in a row an increase has occurred. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 4th for the four-hour candle in terms of price change relative to the last 4 hour candle.

Ethereum Daily Price Recap

The back and forth price flow continues for Ethereum, which started today off at 225.58 US dollars, down 1% ($2.28) from the day prior. This move happened on lower volume, as yesterday’s volume was down 30.7% from the day before — and down 34.47% from the same day the week before. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 2nd for the day in terms of price change relative to the day prior. Here is a daily price chart of Ethereum.

Ethereum Technical Analysis

The first thing we should note is that 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. 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. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. Or to view things another way, note that out of the past 14 days Ethereum’s price has gone down 10 them.

Overheard on Twitter

Over on Twitter, here were the top tweets about Ethereum:

  • From Crypto___Oracle:

    One way to spot a project w/ alot of potential is when a smal but growing group of intelligent & deeply passionate people start to gather around it. You saw it with Bitcoin, Ethereum & Chainlink. What other projects have it? I see it w/ Synthetix now & I believe DMM in more time.

  • From chainlink:

    Developers can now use #Chainlink’s Fast Gas/Gwei Price Reference Feed for a decentralized on-chain source of the current fast gas price on #Ethereum. Referencing Chainlink’s fast gas price at the point of execution ensures users don’t overpay for gas.

  • From scott_lew_is:

    overall the ethereum community is wayyyyy too overconfident about people paying high gas fees if reasonable alternatives exist.watching ethereum overtake bitcoin has been fun.watching the ethereum community fall for the same overconfidence trap that befell bticoin is scary.

In terms of news links for Ethereum here’s one to try:

What Is Ethereum? | Binance Academy

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.