Ethereum (ETH) Up $0.87 On 4 Hour Chart, Outperforms All Top Cryptos to Start the Day; in an Uptrend Over Past 90 Days

By June 16, 2020Ethereum
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Ethereum 4 Hour Price Update

Updated June 17, 2020 01:36 AM GMT (09:36 PM EST)

Ethereum is up 0.37% ($0.87) since the last 4 hour candle, marking the 2nd candle in a row it has gone up. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 3rd for the four-hour candle in terms of price change relative to the last 4 hour candle.

Ethereum Daily Price Recap

235.35 (USD) was the opening price of the day for Ethereum, resulting in yesterday being one in which price moved up 1.89% ($4.37) from yesterday. This move happened on lower volume, as yesterday’s volume was down 55.44% from the day before — and down 9.86% from the same day the week before. Ethereum outperformed all 5 assets in the Top Cryptos asset class since yesterday. Below is a daily price chart of Ethereum.

Ethereum Technical Analysis

The first thing we should note is that the current price of Ethereum is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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 90 day horizon; over that time period, price has been moving up. Interestingly, a trend in the other direction exists on the 14 day timeframe, where price is headed down. If you’re looking to trade the primary trend, this may be a good opportunity to buy dips created by the counter trend. For another vantage point, consider that Ethereum’s price has gone up 6 of the previous 10 trading days.

Overheard on Twitter

For laughs, fights, or genuinely useful information, let’s see what the most popular tweets pertaining to Ethereum for the past day were:

  • From cburniske:

    If you think #DeFi will have a smaller impact on $ETH than ICOs, you aren’t paying attention.The ICO boom flexed #Ethereum’s ability to perform 1 financial service: early-stage capital formation. #DeFi will flex Ethereum’s ability to perform *all* financial services.

  • From Crypto___Oracle:

    #DeFi is so early that no applications are safe from being overtaken by innovative projects. While I think certain infrastructure pieces are coming into place & will be harder to unseat, the dApp game is wide open with only $1B in DeFi on #Ethereum. It’s gonna be fun to witness.

  • From udiWertheimer:

    hey does anyone know what’s going on these days with Charles Hoskinson, Co-founder of Ethereum? Does he have a youtube or tiktok or something?I think he could be a great CEO for some company, I wonder why he didn’t go down that route

Updated June 17, 2020 01:36 AM GMT (09:36 PM EST)

Ethereum is up 0.37% ($0.87) since the last 4 hour candle, marking the 2nd […]

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