Ethereum 4 Hour Price Update
Updated June 05, 2020 07:20 AM GMT (03:20 AM EST)
Ethereum entered the current 4 hour candle at $243.88, up 0.39% ($0.94) from the last 4 hour candle. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 2nd for the four-hour candle in terms of price change relative to the last 4 hour candle.
Ethereum Daily Price Recap
The choppiness in the recent daily price action of Ethereum continues; to start today, it came in at a price of 243.35 US dollars, down 0.49% ($1.21) since the previous day. As for how volume fared, yesterday’s volume was up 36.59% from the previous day (Wednesday), and up 0.58% from Thursday of the week before. Those trading within the Top Cryptos asset class should know that Ethereum was the worst performer in the class during the previous day. Below is a daily price chart of Ethereum.
Ethereum Technical Analysis
Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving up. For another vantage point, consider that Ethereum’s price has gone up 8 of the previous 14 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.
Overheard on Twitter
Over on Twitter, here were the top tweets about Ethereum:
- From bsletten:
I am pleased to announce that I am going to be writing “WebAssembly : The Definitive Guide” for @OReillyMedia. It will cover the MVP, WASI, Blazor, C/C++, Rust and cool examples such as portable graphics libraries, the TensorFlow.js backend, the Ethereum VM, IPFS and more.
- From KyleMacLeanX:
No offense to all those small platforms out there, I wish you well. Buuuut, if I’m a developer with a Fortune 500 company, I’d probably just go with:$VET VeChain
$ADA Cardano
$ATOM Cosmos
$HBAR Hedera
$DOT Polkadot
$ETH Ethereum
$ICX Icon🤷♂️ just sayin’ - From iamDCinvestor:
Pro-Tip for L2s & “Killer” L1s:There’s nothing low status about being “L2” on Ethereum. You’ll have a line of users & devs read to check you out.Eth L2 golden age is coming. Be part of it.Or act like you’re a L1 with nothing back it up & the market will punish you harshly.
In terms of news links for Ethereum here’s one to try:
Federal Reserve Endorses Ethereum-Backed Alternative To Libor
Senator Cotton asked if the Fed supports alternative benchmark interest rates besides the Secured Overnight Financing Rate (SOFR) – such as AMERIBOR – for the replacement of LIBOR….Is Ameribor appropriate to use for institutions for whom it more accurately represents their cost of funding?” Chairman Powell stated in his response that, “the Federal Reserve convened and supports the work of the Alternative Reference Rates Committee (ARRC) and views SOFR as a robust alternative that will help many market participants in the transition away from LIBOR….The Federal Reserve convened the Alternative Reference Rates Committee (ARRC) that created the Secured Overnight Financing Rate (SOFR) as an alternative to LIBOR.
