Ethereum 4 Hour Price Update
Updated September 10, 2020 03:19 PM GMT (11:19 AM EST)
Ethereum came into the current 4 hour candle up 0.93% ($3.4) from the open of the previous 4 hours, marking the 2nd consecutive candle it has gone up. On a relative basis, the previous 4 hours were pretty good: Ethereum bested all 5 of the assets in the Top Cryptos class 🙂
Ethereum Daily Price Recap
The choppiness in the recent daily price action of Ethereum continues; to start today, it came in at a price of 351.15 US dollars, up 4.06% ($13.7) since the day prior. This move happened on lower volume, as yesterday’s volume was down 14.61% from the day before — and down 52.44% from the same day the week before. Ethereum outperformed all 5 assets in the Top Cryptos asset class since the day prior. Below is a daily price chart of Ethereum.
Ethereum Technical Analysis
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. For additional context, note that price has gone up 6 out of the past 10 days.
Overheard on Twitter
Behold! Here are the top tweets related to Ethereum:
- From FantomFDN:
2/2We know that the current bridge situation is annoying and the recent spike in Ethereum’s fees made it more complicated. We feel you.We’re actively working on solutions, so users can experience the extreme speed and low fees of Fantom even when bridging to other platforms
- From renprotocol:
3⃣ This means RenVM is capable of exchanging $BTC for $ZEC on an @ethereum DEX, sending that $ZEC to @Polkadot to collateralize a stablecoin, and sending that stablecoin back to #Ethereum where it is lent out to another user, all in one #Bitcoin transaction.
- From krugman25:
It’s officially been 1 year since I bought my first $ETH. It has been a life changing experience. I started with a small stack of $ETH which now has grown by over 1,000%. I’ve pulled out my original investment so it’s all gains now. Nothing can hurt me. #DeFi #Ethereum
As for a news story related to Ethereum getting some buzz:
The platform was developed by one of the original co-founders of Ethereum, mathematician Charles Hoskinson, who left Ethereum in 2014 and subsequently founded IOHK, the company building Cardano. Cardano has been the subject of many headlines this year as it has launched its latest phase of implementation, known as Shelley, on its mainnet….A representative from Quantstamp, which has been auditing Cardano’s codebase during recent months, previously told Cointelegraph that he believes the project will ultimately dwarf the other major on-chain governance platform, Tezos, becoming second only to Ethereum as the smart-contract platform of choice….In terms of competition to Ethereum, interoperability and an expansion into the decentralized finance space are the most notable. Earlier this year, RSK launched an interoperability bridge with Ethereum, enabling anyone to send tokens back and forth between the two platforms, including RSK-based stablecoins and leveraged tokens launched by developer Money on Chain….We think this validates our view that proof-of-stake is the future of consensus for the vast majority of non-Bitcoin chains.” Qtum also runs on the Ethereum Virtual Machine, meaning that the project could potentially benefit from developments in Ethereum 2.0, such as sharding….Perhaps the biggest area in which Algorand can rival Ethereum 2.0 is in development on the platform….Cosmos launched in 2019, causing a stir in the blockchain space as one of the first platforms offering blockchain interoperability.