Ethereum (ETH) Up $1.59 in Last 4 Hours, Entered Today Up 1.89%; Breaks Above 50 Day Average

Ethereum 4 Hour Price Update

Updated June 29, 2020 11:19 PM GMT (07:19 PM EST)

Ethereum came into the current 4 hour candle up 0.7% ($1.59) from the open of the last 4 hour candle, marking the 4th candle in a row an upward move has occurred. 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 last 4 hour candle.

Ethereum Daily Price Recap

Ethereum’s 5 day negative streak has officially concluded, as the candle from the day prior closed up 1.89% ($4.18). The price move occurred on volume that was down 33.34% from the day prior, but up 63.58% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 2nd since the day prior in terms of percentage price change. Below is a daily price chart of Ethereum.

Ethereum Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Ethereum crossed above its 50 day moving average yesterday. 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. Traders will also want to note, though, that a counter trend — meaning a trend going down — can be seen on the 30 day timeframe. 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 30 days Ethereum’s price has gone down 17 them.

Overheard on Twitter

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

  • From FXLordIce:

    @binance #Ethereum is a “soft layer” #blockchain, just like “Internet” aka “www” was for other businesses & projects development. Therefore, #ETH price, must be cheaper and cheaper, to become… affordable (for those projects to evolve on its network/blockchain).Hope this helps.Ice.

  • 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 hosseeb:

    1/ I’ve been informed by multiple sources that China’s BSN is going to be integrating with public blockchains, the first of which are @ethereum and @NervosNetwork. This is kind of a big deal. Thread. 👇

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

Zilliqa mining with Ethereum Classic hardware: it is now possible

So, in order to make sure that the choice of hardware does not eliminate the possibility of mining other cryptocurrencies, the team wanted to further develop and improve the mining of Ethereum Classic (ETC) machines and make them compatible for Zilliqa (ZIL) mining as well….From the data available on the site, the profitability of ZIL is really remarkable, even without changing the hardware.