Ethereum (ETH) Price Near $459.12; in an Uptrend Over Past 30 Days, Moves Up For the 2nd Day In A Row, Price Base in Formation Over Past 90 Days

By November 11, 2020Ethereum
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The Hourly View for ETH

Last Updated November 12, 2020, 02:039 GMT

At the moment, ETH’s price is down $-0.48 (-0.1%) from the hour prior. ETH has seen its price go down 4 out of the past 5 hours, thus creating some compelling opportunities for bears. Regarding the trend, note that the strongest trend exists on the 50 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on ETH. Given that we see downtrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Ethereum Daily Price Recap

Ethereum came into today up 2.89% ($13.05) from the open of the day prior, marking the 2nd day in a row it has gone up. As for how volume fared, yesterday’s volume was up 154.74% from the previous day (Tuesday), and up 135.89% from Wednesday of the week before. Ethereum outperformed all 7 assets in the Top Cryptos asset class since the day prior. The daily price chart of Ethereum below illustrates.


Ethereum Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. 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. Or to view things another way, note that out of the past 10 days Ethereum’s price has gone up 7 them.

Overheard on Twitter

Over on Twitter, here were the top tweets about Ethereum:

  • From CaitlinLong_:

    As #Ethereum works thru its #hardfork, worth asking these ?s abt your exchange/custodian:
    * if it no longer supports the old chain, can it just break its contract w/ you?
    * can it keep the forked coins or must it give them to you?
    #Wyoming law has consumer protections for this!

  • From peter_szilagyi:

    Tomorrow (12th Nov) Google will publish a security release (CVE-2020-28362) for #golang, in the form of Go v1.15.5 and v1.14.12.This is a critical release for #Ethereum! We will push a new Geth release with it, but if you use an older version, you’ll need to rebuild yourself!

  • From EthereumOnARM:

    1/ PSA. After months of testing and research with both Eth1 and Eth2 nodes, we decided to stake from day zero on a @Raspberry_Pi 4.If you plan to do so, we encourage you to wait for our feedback and make sure it is safe to stake in these kinds of devices. #eth2 #ethereum

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

Image: Shutterstock Over 50,000 ETH has found its way to Ethereum 2.0’s deposit contract within a week, data from on-chain tracking service Dune Analytics shows….Dune Analytics data shows the number of deposits has continually lessened since the launch last week.

Last Updated November 12, 2020, 02:039 GMT

At the moment, ETH’s price is down $-0.48 (-0.1%) from the hour prior. ETH has seen its […]

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