Ethereum (ETH) Up $1.3 On 4 Hour Chart, Crosses 20 and 50 Day Moving Averages; in an Uptrend Over Past 90 Days

By July 6, 2020DApps
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Ethereum 4 Hour Price Update

Updated July 07, 2020 01:36 AM GMT (09:36 PM EST)

Ethereum closed the previous 4 hours up 0.54% ($1.3); this denotes the 5th candle in a row an increase has occurred. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 4th since the previous 4 hours in terms of percentage price change.

Ethereum Daily Price Recap

The back and forth price flow continues for Ethereum, which started today off at 241.76 US dollars, up 6.02% ($13.73) from the day prior. The price move occurred on stronger volume; specifically, yesterday’s volume was up 203.63% from the day prior, and up 75.37% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 3rd 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

Moving average crossovers are always interesting, so let’s start there: Ethereum crossed above its 20 and 50 day moving averages yesterday. 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. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. For additional context, note that price has gone down 9 out of the past 14 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 ceterispar1bus:

    If @thorchain_org works as envisioned for cross-chain swaps, it would make me more open to the idea that we’ll get dapps interacting cross-chain at some point as well. Would this impact the moat/network effects of DeFi on Ethereum? Eg. Take out loan on Ethereum to use on Polkadot

  • From twobitidiot:

    There are probably ~4-5 DeFi “products” with product-market fit right now.Bitcoin – digital gold
    Ethereum – digital asset creation & settlement
    Uniswap – permissionless exchange & market maker
    USDT/Dai – dollar-pegged, censor-resistant stablecoinsIt’s still so early.

  • From NoodleofBinance:

    I repeat:As both US and Chinese stock markets enter mad bull phase, it will only be a matter of time before #bitcoin $btc and #Ethereum $eth, $crypto embark on their moonshot missionBeartards with PTSD from 2018 will be the biggest loser in this upcoming crypto mad bull

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

If Altona goes according to the roadmap, a public test network will be launched and then the Ethereum 2.0 mainnet, the Beacon Chain, will be deployed….For the first time these clients are working together with the updated specification (0.12) of the Ethereum 2.0 mainnet and are an indispensable step in determining the next stages of the project, according to Altona’s GitHub page: Before such a mainnet can be launched, we need testnets that mimic mainnet conditions as good as possible….Altona testnet has launched!

Updated July 07, 2020 01:36 AM GMT (09:36 PM EST)

Ethereum closed the previous 4 hours up 0.54% ($1.3) ; this denotes the 5th […]

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