Ethereum (ETH) Down $0.14 in Last 4 Hours, Entered Today Down For the 4th Day In A Row; Pin Bar Pattern Appearing on Chart

By May 12, 2020Ethereum
Click here to view original web page at www.cfdtrading.com

Ethereum 4 Hour Price Update

Updated May 12, 2020 07:18 PM GMT (03:18 PM EST)

The choppiness in the recent four-hour candle price action of Ethereum continues; to start the current 4 hour candle, it came in at a price of 190.84 US dollars, down 0.07% ($0.14) since the previous 4 hours. 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 previous 4 hours.

Ethereum Daily Price Recap

Ethereum closed the previous day down 1.04% ($1.96); this denotes the 4th day in a row a decline has happened. This move happened on lower volume, as yesterday’s volume was down 45.34% from the day before — and down 3.25% from the same day the week before. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 2nd for the day in terms of price change relative to the previous day. Here is a daily price chart of Ethereum.

Ethereum Technical Analysis

Notably, Ethereum is now close to its 100 day averages, located at 191.23 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. Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For additional context, note that price has gone up 15 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard on Twitter

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

  • From IamCryptoWolf:

    Halving is done ! Congratulations. Now lets move on for the event of the decade. Ethereum 2.0 is on track to launch in July, bringing proof of stake and new scalability features to the network !

  • From CryptoFights:

    @1enjin @HuntersofRio @santoshroy @enjin They are paying us with technology that can do a LOT more than ethereum. We used and developed with ethereum for years before moving to BSV. We are not just doing items on-chain but our backend which is a huge deal in the blockchain gaming space. Everyone is doing layer 2 tech.

  • From Arturo_P_A:

    May 11, 2020.@FlareNetworks announced the launch of the “Coston Test Network”.Over the next quarter, Flare will be working to integrate #XRP with its Avalanch-based Turing-complete FBA sytem that leverages the Ethereum Virtual Machine to offer support for smart contracts.

In terms of news links for Ethereum here’s one to try:

On May 11, Chainlink (Link) announced the launch of a verifiable random function (VRF) that enables generation of on-chain trusted randomness….Until now, even decentralized applications had to rely on a centralized source of randomness.

Updated May 12, 2020 07:18 PM GMT (03:18 PM EST)

The choppiness in the recent four-hour candle price action of Ethereum continues; to start […]

Leave a Reply