Ethereum (ETH) Up $0.35 Over Past 4 Hours, Started Today Down 2.23%; Price Base in Formation Over Past 90 Days

By May 21, 2020Ethereum
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Ethereum 4 Hour Price Update

Updated May 21, 2020 01:35 AM GMT (09:35 PM EST)

Ethereum is up 0.17% ($0.35) since the last 4 hour candle, marking the 2nd candle in a row an upward move has occurred. 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 last 4 hour candle.

Ethereum Daily Price Recap

Ethereum closed the day prior down 2.23% ($4.78); this denotes the 2nd day in a row it has gone down. The change in price came along side change in volume that was up 11.23% from previous day, but down 2.53% from the Wednesday of last week. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 2nd since the day prior in terms of percentage price change. Let’s take a look at the daily price chart of Ethereum.

Ethereum Technical Analysis

Notably, Ethereum is now close to its 20 day averages, located at 204.49 respectively, and thus may be at a key juncture along those timeframes. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 6 out of the past 10 days.

Overheard on Twitter

Behold! Here are the top tweets related to Ethereum:

  • From RuneKek:

    4 million Dai was just minted with WBTC in a single transaction. This really showcases the latent demand for non-ETH assets, and it’s the beginning of a broader trend of DeFi acting as an economic vacuum that will eventually attract almost all value to the Ethereum blockchain.

  • From kaiynne:

    OK, in all seriousness, I’ve been trying to get 2 BTC tx confirmed for like 2 hours now, requires 6 confs. There hasn’t even been a block produced in over 30 minutes! The irony is I am just waiting for the renBTC gateway. So much BTC is going to end up on Ethereum…

  • From VitalikButerin:

    @udiWertheimer I’d recommend breaking it up into two questions:1. Why is Ethereum better than a single-node ETH private chain run as a hypothetical new Google service?
    2. Why is a single-node ETH private chain run by Google better than Google Spreadsheets?I presume you care more about (1)?

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

Nonetheless, the cross-border remittances token was able to turn its 50-day moving average into support in the past couple of days, which is a reliable bullish indicator….A spike in XRP demand around the current price levels may allow it to break above its 100-day moving average, which may trigger a further increase in buying pressure….If this were to happen, XRP could rise to retest serious resistance at the 200-day moving average….During the mid-March crash, for example, as Litecoin plummeted to a low of $25, more than 200 million idled LTC tokens moved between addresses….The 100-day moving average resistance level is currently hovering at around $48….You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice.

Updated May 21, 2020 01:35 AM GMT (09:35 PM EST)

Ethereum is up 0.17% ($0.35) since the last 4 hour candle, marking the 2nd […]

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