Ethereum 4 Hour Price Update
Updated September 12, 2020 07:18 PM GMT (03:18 PM EST)
Ethereum is up 2.68% ($9.99) since the previous 4 hours, marking the 3rd straight candle it has gone up. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 2nd since the previous 4 hours in terms of percentage price change.
Ethereum Daily Price Recap
Ethereum closed the day prior up 1.6% ($5.9); this denotes the 3rd consecutive day an increase has occurred. This move happened on lower volume, as yesterday’s volume was down 34.79% from the day before — and down 32.45% from the same day the week before. On a relative basis, the day prior was pretty good: Ethereum bested all 5 of the assets in the Top Cryptos class 🙂 Below is a daily price chart of Ethereum.
Ethereum Technical Analysis
The first thing we should note is that 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. Traders will also want to note, though, that a counter trend — meaning a trend going down — can be seen on the 14 and 30 day timeframes. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. For another vantage point, consider that Ethereum’s price has gone up 18 of the previous 30 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Ethereum:
- From QwQiao:
Having played around with synthetic BTCs I’ve come to the conclusion that having BTC on Ethereum is incredibly bullish for BTC long term. It allows BTC to interact in a *highly programmatic* way as a reserve currency with other financial apps. It brings more liveliness to BTC.
- From JamesSpediacci:
*Uniswap finally makes using a DEX on Ethereum an enjoyable experience and a triumph for decentralization*SBF, Band CTO, CZ, and probably Justin Sun:
“Let’s collude to destroy it and make a centralized version so we make more money hehehe”SBF fanboys: “he’s such a genius <3”
- From iamDCinvestor:
$YFI listed on Coinbase Pro is only the start. Eventually, it will end up on Coinbase.The super-high nominal token value will draw eyes, and interest. People will want to know what it’s about.And it will pull a new generation of users & investors into Ethereum DeFi overall.
In terms of news links for Ethereum here’s one to try:
According to Lubin, Ethereum 1.0 is a staking platform that enables the launch of Ethereum 2.0, which uses a proof-of-stake consensus mechanism….While enterprise adoption of Ethereum 2.0 may take a few years, it’s interesting to note that the idea of staking is gaining traction.