(Last Updated October 28, 2020)
Hello! This is the news page for Ethereum. Below you’ll find our daily market updates. Here’s a technical analysis summary of where things currently stand:
A trend/countertrend situation exists on ETH, in which an uptrend exists on shorter timeframes but a downtrend appears on the 90 day timeframe. As such, traders with short positions should be aware of the downtrend in place on the longer timeframes.
ETH’s moving averages suggest the trend on a number of time horizons is bullish.
The chart below illustrates.
At the time of this writing, ETH’s price is down $-8.78 (-2.13%) from the week prior. Moreover, note that this move is a reversal from the week prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 20 week timeframe. Looking further out, the moving averages on the weekly timeframe suggest a bearishness in price, as the 20, 50 and 100 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend. The weekly chart below shows ETH’s price action over the past year.
We’re now in the era where new projects are launching on ethereum rollups and sidechains instead of mainchain.
Of note is that the 100 hour changed directions on eth; it is now pointing up.
The price move occurred on volume that was up 22.58% from the day prior, but down 12.88% from the same day the week before.
Out of the 7 instruments in the top cryptos asset class, ethereum ended up ranking 2nd for the day in terms of price change relative to yesterday.
This move happened on lower volume, as yesterday’s volume was down 68.26% from the day before — and down 60.72% from the same day the week before.
Out of the 7 instruments in the top cryptos asset class, ethereum ended up ranking 5th for the day in terms of price change relative to the previous day.
Relative to other instruments in the top cryptos asset class, ethereum ranked 5th since the previous day in terms of percentage price change.
But we would certainly be interested in speaking with them about ways to merge the projects or at least find ways to make them interoperable.”
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