The Hourly View for ETH
Last Updated October 2, 2020, 15:16 GMT
At the time of this writing, ETH’s price is down $-0.42 (-0.12%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. 3 The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Ethereum Daily Price Recap
Ethereum is down 1.88% ($6.77) since yesterday, marking the 2nd day in a row it has gone down. The price move occurred on volume that was up 54.79% from the day prior, but down 32.26% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 6th since yesterday in terms of percentage price change. The daily price chart of Ethereum below illustrates.
Ethereum Technical Analysis
Notably, Ethereum is now close to its 20 day averages, located at 361.8 respectively, and thus may be at a key juncture along those timeframes. 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. Or to view things another way, note that out of the past 10 days Ethereum’s price has gone up 6 them.
Overheard on Twitter
Behold! Here are the top tweets related to Ethereum:
- From kaiynne:
Optimistic Ethereum will be the DeFi chain over the next 12-24 months. Nothing is even close. Mainnet is coming and it’s going to melt your fucking faces. @clembalestrat should have a sneak peak for you all very soon…
- From ja_morris:
Yesterday the @energywebx stack decarbonized the #XRP ledger via #EWZero. What blockchain is next? I vote #Ethereum. @VitalikButerin and @ethereum let’s do this. ETH uses the same amount of power as a mid-sized US state each year. Let’s make it ZERO carbon today (1/2)
- From zhusu:
applications are not and should not be loyal to any sc chain; they are loyal to their users and tokenholdersto the extent that they say they will always be on ethereum only, its a virtue signal to what they perceive to be their main current user base, not an engineering reality
In terms of news links for Ethereum here’s one to try:
A rollup-centric ethereum roadmap – Fellowship of Ethereum Magicians
In a further twist of irony, eth2’s usability as a data availability layer for rollups comes in phase 1, long before eth2 becomes usable for “traditional” layer-1 applications….There are some things that would continue to matter at the base layer: Account abstraction is somewhat less important, because it can be implemented on L2 regardless of whether or not L1 supports it….Note in particular that this implies that projects like TurboGeth are still very important, except it would be high-throughput rollup clients, rather than base-layer eth1 clients, that would benefit the most from them….This implies a “phase 1.5 and done” approach to eth2, where the base layer retrenches and focuses on doing a few things well – namely, consensus and data availability….This may actually be a better position for eth2 to be in, because sharding data availability is much safer than sharding EVM computation….This will help Ethereum distinguish itself as having a stronger security model than other sharded L2 chains, which are all going in the direction of having sharded execution of some form; eth2 would be the base layer that’s just powerful enough to have functionality escape velocity, and no more powerful.