Ethereum 4 Hour Price Update
Updated August 22, 2020 11:18 AM GMT (07:18 AM 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 389.62 US dollars, down 0.42% ($1.65) since 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
387.98 (USD) was the opening price of the day for Ethereum, resulting in the day prior being one in which price moved down 6.74% ($28.06) from the day prior. The price move occurred on stronger volume; specifically, yesterday’s volume was up 36.91% from the day prior, and up 8.15% 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 day prior. Let’s take a look at the daily price chart of Ethereum.
Ethereum Technical Analysis
Notably, Ethereum crossed below its 20 day moving average yesterday. Volatility for Ethereum has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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. For another vantage point, consider that Ethereum’s price has gone up 19 of the previous 30 trading days.
Overheard on Twitter
Behold! Here are the top tweets related to Ethereum:
- From MattAhlborg:
6/ The average user on AirTM isn’t a 1%’er in the West testing out new smart contract protocols on Ethereum, it is a middle to lower class worker in Venezuela preserving their wealth, ten dollars at a time. I saw this with my own eyes working with AirTM in CDMX last year.
- From ercwl:
The notion that cryptocurrency network utility can be gauged by looking at fee volume is a sloppy, faulty take. Should be obvious to anyone that if e.g. USDT moves from Ethereum mainnet to L2 (OMG Network apparently) & it causes congestion+fees to drop, *utility* is up, not down.
- From GalewskiPatryk:
I believe yesterday was finally shakeout before #Ethereum 2.0 style rally. $ICX showing true power by bringing TRUE mass adoption to the table, and this is something nobody can’t ignore anymore. You are looking at best project in #Crypto TODAY. #ICONSpartans understand.. ???
For a longer news piece related to ETH that’s been generating discussion, check out:
Once again, we found that Coinbase was not the victim for any of the orphaned transactions….In the main chain, we find one large double spend transaction from the attacker address, as opposed to three separate double spend transactions, one for each of the above orphaned transactions….At the time of the attack, the main (i.e. attack) chain had height 10907434 while the orphaned chain had height of 10907836….After the reorg, the main (i.e. attack) chain head block was 0x7521 at height 10939975….The reorg orphaned 4244 blocks, while the attack chain contained 4353 blocks….Blockchain Security performed the same analysis as above on this reorg and found 7 double spend transaction pairs and an additional 2 orphaned transactions sent to the victims address.