Ethereum (ETH) Up $3.31 in Last 4 Hours, Started Today Up 3.64%; Price Base in Formation Over Past 14 Days

Ethereum 4 Hour Price Update

Updated May 28, 2020 11:19 PM GMT (07:19 PM EST)

Ethereum is up 1.54% ($3.31) since the last 4 hour candle, marking the 4th candle in a row it has gone up. On a relative basis, the last 4 hour candle were pretty good: Ethereum bested all 5 of the assets in the Top Cryptos class 🙂

Ethereum Daily Price Recap

The back and forth price flow continues for Ethereum, which started today off at 208.34 US dollars, up 3.64% ($7.31) from the previous day. This move happened on lower volume, as yesterday’s volume was down 7.2% from the day before — and down 31.91% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 3rd since the previous day in terms of percentage price change. Let’s take a look at the daily price chart of Ethereum.

Ethereum Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Ethereum crossed above its 20 day moving average yesterday. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 30 days Ethereum’s price has gone down 16 them.

Overheard on Twitter

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

  • From lionindayard:

    1/ It’s time we have a honest conversation about the state of DeFi. The truth is that DeFi has out grown the current state of Ethereum. How can DeFi upend the current financial system with 20 second block times? Well its 20 sec block time if you are willing to pay high gas fees

  • From zhusu:

    Costs $10 in gas fees to claim snx weekly now, costs $60 to start an Aragon DAOfinancial #Ethereum use cases will compete for blockspace as their mkt size balloons, while all cost-sensitive use cases will prefer sovereignty via a stable fee environment such as @polkadotnetwork

  • From TokenBrice:

    If you thought I was crazy, wait until you see my latest project unfold – it’s sheer madness & that’s exactly what we need for #ethereum and #DeFi.#Ethereum is organic; it’s living. It’s unlike any other piece of technology, now is the time to acknowledge it.

For a longer news piece related to ETH that’s been generating discussion, check out:

Four key metrics suggest Ethereum is hugely undervalued, analysts claim – Decrypt

It seems like a majority agree that these prices are just not worth selling ETH,” Blockfyre co-founder Simon Dedic told Decrypt….DeFi products like Uniswap and Balancer are prominent examples of Ethereum developers bringing new features and growing value propositions to the distributed network.