Ethereum (ETH) Closes Last Hour Up $1.05; Breaks Below 20 Day Average, Heads Down For the 3rd Consecutive Day, in an Uptrend Over Past 30 Days

By October 30, 2020DApps
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The Hourly View for ETH

Last Updated October 31, 2020, 01:037 GMT

At the time of this writing, ETH’s price is up $1.05 (0.27%) from the hour prior. The hourly chart shows that ETH has seen 2 straight up hours. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Of note is that the 20 hour changed directions on ETH; it is now pointing up. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

Ethereum Daily Price Recap

Ethereum closed the previous day down 1.23% ($4.78); this denotes the 3rd consecutive day a decrease has occurred. The price move occurred on stronger volume; specifically, yesterday’s volume was up 48.9% from the day prior, and up 6.13% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ethereum ended up ranking 3rd for the day in terms of price change relative to the previous day. Here is a daily price chart of Ethereum.


Ethereum Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Ethereum crossed below its 20 day moving average yesterday. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. Or to view things another way, note that out of the past 14 days Ethereum’s price has gone up 7 them.

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 jdorman81:

    A thread on Uniswap $UNIThe rationale for owning $ETH as an investment is that Ethereum is a clear market leader, w/ strong growth/usage, & tangible fee generation even though none of this value accrues to ETH token holders yet.This is actually the same bull case for $UNI

  • From iamDCinvestor:

    1/ Uniswap is the most used Ethereum app, and that’ll likely be true without UNI incentives.My fear for governance is it becomes a nonstop series of votes to add incentives back after they expire, and to new pools.A precedent should be set early that this is not acceptable.

  • From DvdSchwrtz:

    A deep dive on the @graphprotocol tokenomics for $GRT:The Graph is a decentralized query network where data providers, aka Indexers, serve #Ethereum network data to dapps so users can get insights into blockchain activity. It’s an important project because while protocols 1/8

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

It announced today plans for a new bridge between the Ethereum Classic and Ethereum blockchains, allowing DAI stablecoins to be swapped between the two….The holdouts, who felt forking to help return hacked funds violated the basic principles of immutable cryptocurrency blockchains, continued maintaining the original Ethereum blockchain; they make up the Ethereum Classic community of today.

Last Updated October 31, 2020, 01:037 GMT

At the time of this writing, ETH’s price is up $1.05 (0.27%) from the hour prior. The […]

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