Ethereum (ETH) Down $4.95 On 4 Hour Chart, Started Today Up 0.9%; in an Uptrend Over Past 90 Days

By September 5, 2020Ethereum
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Ethereum 4 Hour Price Update

Updated September 05, 2020 01:35 AM GMT (09:35 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 387.18 US dollars, down 1.26% ($4.95) since the previous 4 hours. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 4th for the four-hour candle in terms of price change relative to the previous 4 hours.

Ethereum Daily Price Recap

Ethereum entered today at $385.91, up 0.9% ($3.45) from the previous day. The price move occurred on volume that was down 49.37% from the day prior, but up 92.09% from the same day the week before. Those trading within the Top Cryptos asset class should know that Ethereum was the worst performer in the class during the previous day. Let’s take a look at the daily price chart of Ethereum.

ETH

Ethereum Technical Analysis

Coming into today the current price of Ethereum is sitting close to its 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 16 out of the past 30 days. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

Overheard on Twitter

Behold! Here are the top tweets related to Ethereum:

  • From avsa:

    The story so far: someone built a bank in ethereum, and it was so successful they decided to give users a vote. But the vote could be sold and soon it paid more than the interest in the own bank, and soon other projects started to pay for users with tokens too.

  • From hudsonjameson:

    I struggle to reconcile participating in the greediness of DeFi. Sometimes I’m unsure a net positive will come out of all of this if DeFi dominates as the primary Ethereum use case forever. However, I still believe Ethereum will greatly empower the disenfranchised at some point.

  • From APompethiano:

    #DeFi on #Ethereum basically created crowdsourced hedge funds with automated strategies developed by random community members vs. overpaid fund managers. This will make a lot of legacy funds (and crypto funds) look archaic when all is said and done.

For a longer news piece related to ETH that’s been generating discussion, check out:

Shargri-La is a transaction-level sharding simulator for protocol testing against users’ behavior on a sharded blockchain….We call a user active in a shard if they own ETH in that shard….Each user is active in only one shard….First, we simulate the case where a minority (33%) of users follow their wallets that recommend a shard with the minimum expected transaction fee (Algorithm 1)….Next, we simulate the case where a majority (67%) of users move to the shard with the minimum expected transaction fee (Algorithm 1)….Because of the higher base fee in crowded shards, as we can observe by comparing Figure 9 and Figure 5, the difference of transaction fee between switchers and non-switchers becomes smaller than Experiment 2.

Updated September 05, 2020 01:35 AM GMT (09:35 PM EST)

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

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