Ethereum (ETH) Up $1.35 in Last 4 Hours, 3 Day Up Streak Snapped; Crosses 20 Day Moving Average

By May 16, 2020Ethereum
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Ethereum 4 Hour Price Update

Updated May 16, 2020 01:35 AM GMT (09:35 PM EST)

The end of a 3 four-hour candle negative run has come for Ethereum, which finished the previous 4 hours up 0.69% ($1.35). 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 is down 4.26% ($8.67) since the previous day, marking a reversal from the day prior — and the end of a 3 day positive run. This move happened on lower volume, as yesterday’s volume was down 13.15% from the day before — and down 6.8% from the same day the week before. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 4th for the day in terms of price change relative to the previous day. Let’s take a look at the daily price chart of Ethereum.

Ethereum Technical Analysis

Notably, Ethereum crossed below its 20 day moving average yesterday. 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 down 9 out of the past 14 days.

Overheard on Twitter

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

  • From CryptoCharles__:

    If I’m wrong about Ethereum, I’ll have to continue working for a few more years. If I’m right about Ethereum, my grandchildren’s grandchildren will never work a day in their life. Seems like a pretty good bet to me.

  • From ah_laylah:

    Guys I know I said ethereum smart contract is the future (which it is no doubt ), but you should try FORSAGE. It’s the new ethereum smart contract block chain matrix project and the good thing about it is whether you get referrals or not, YOU EARN EITHER WAY
    THAT’S THE FUTURE

  • From TrustlessState:

    It’s pretty clear that there is a coming NFT mania on Ethereum. The best part is, the only way to pump an NFT is by driving real value to it, making it the exact opposite incentives of the ICO mania.

As for a news story related to Ethereum getting some buzz:

Reddit launched two new types of loot token (a token on the Ethereum blockchain that is earnable within a community rather than purchased) in their /r/Cryptocurrency and /r/FortniteBR subreddits, and in turn signaled their plan to pivot the company’s monetization more towards crypto….By definition the Community Points Program issues a type of loot token on the Ethereum blockchain, which means you can both earn it in the community, and redeem it in the community.

Updated May 16, 2020 01:35 AM GMT (09:35 PM EST)

The end of a 3 four-hour candle negative run has come for Ethereum, which […]

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