Ethereum (ETH) Up $6.87 On 4 Hour Chart; Moves Down For the 4th Day In A Row

By May 7, 2020Ethereum
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Ethereum 4 Hour Price Update

Updated May 07, 2020 05:35 AM GMT (01:35 AM EST)

Ethereum is up 3.45% ($6.87) since the last 4 hour candle, marking a reversal from the candle prior — and the end of a 3 four-hour candle negative run. Ethereum outperformed all 5 assets in the Top Cryptos asset class since the last 4 hour candle.

Ethereum Daily Price Recap

Ethereum closed yesterday down 3.1% ($6.38); this denotes the 4th day in a row it has gone down. The change in price came along side change in volume that was up 24.27% from previous day, but down 52.11% from the Wednesday of last week. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 4th since yesterday in terms of percentage price change. The daily price chart of Ethereum below illustrates.

Ethereum Technical Analysis

Notably, Ethereum is now close to its 20 and 100 day averages, located at 194.62 and 190.12 respectively, and thus may be at a key juncture along those timeframes. Volatility for Ethereum has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 10 days Ethereum’s price has gone down 6 them.

Overheard on Twitter

Behold! Here are the top tweets related to Ethereum:

  • From TrustlessState:

    The only way and “Ethereum Killer” could actually kill Ethereum is by building a better ETH 2, and then using the ETH 1 state for account balances at Genesis. Which would mean no new tokens for VCs, which would invalidate the whole motivation behind the Ethereum killer anyways

  • From CyPhlux:

    Remember when the top 3 tokens were #btc #Ethereum #LTC ? What ever happened to LTC? The media and everything mainstream had the hots for all three.. Now the new 3rd asset isn’t even talked about. Infact its skipped over… Its like there’s an elephant in the room made of glass..

  • From TylerDurden:

    I’m sat in a coffee shop – reading and being nosey – and the guy on the table next to me is seemingly trying to convince his friend to buy Ethereum and Monero.If he mentions XRP I’ll step in.

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

ETH 2.0’s highly anticipated revamp is expected to begin rolling out in a matter of months, but scaling solutions and gas-free transactions have already arrived….Ethereum 2.0 is expected to launch within months, but new scaling solutions and gas-free transactions are already here.

Updated May 07, 2020 05:35 AM GMT (01:35 AM EST)

Ethereum is up 3.45% ($6.87) since the last 4 hour candle, marking a reversal […]

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