The Hourly View for ETH
Last Updated November 24, 2020, 02:036 GMT
At the time of this writing, ETH’s price is down $-1.72 (-0.28%) from the hour prior. This move is a reversal from the hour prior, which saw price move up. Regarding the trend, note that the strongest trend exists on the 100 hour timeframe. 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 8.77% ($49.12) from the open of the previous day, marking the 4th day in a row it has gone up. As for how volume fared, yesterday’s volume was up 18.39% from the previous day (Sunday), and up 105.75% from Monday of the week before. Out of the 7 instruments in the Top Cryptos asset class, Ethereum ended up ranking 5th for the day in terms of price change relative to the previous day. Below is a daily price chart of Ethereum.
Ethereum Technical Analysis
The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. For another vantage point, consider that Ethereum’s price has gone up 17 of the previous 30 trading days.
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 TrustlessState:
.@coinbase I finally got my dad to buy Bitcoin and Ethereum a few days agoToday I pulled open his Coinbase app to discover he purchased ETC on accidentIf people are still making this mistake in 2020, it’s your fault. Either delist $ETC or make a pop-up warning or SOMETHING
- From RyanSAdams:
The fastest growing economy in the world isn’t the U.S. or ChinaIt’s EthereumHere’s the thing…If you want a piece of the American economy you buy the S&PIf you want a piece of the Ethereum economy you buy ETHInvestors will learn this cycle
- From zhusu:
Now that there will be nothing but 100% bulltarding from me on Twitter Dot Com, I suspect eyes will turn to our ethereum addresses for clues and alpha leakage.Rest assured we have a CPO (Chief Psyops Officer) appointed needfully.Kind Regards
In terms of news links for Ethereum here’s one to try:
What is The Potential Impact of Ethereum 2.0 on The Derivatives Market? | Binance Blog
Below we examine several market indicators that could potentially reveal traders’ sentiment surrounding ETH 2.0. ETH Futures open interest remains strong on Binance Source: Skew Ethereum futures open interest on Binance has risen considerably since the beginning of 2020….The open interest upsurge in the second half of 2020 may suggest that traders have positioned long-term directional bets on Ethereum. Increasing Futures basis signals investors’ expectations Market analysts often turn to the futures market to understand market expectations….The basis represents the difference between the underlying asset’s spot and futures prices. In bull markets, futures prices trade higher than spot markets….As such, the futures basis tends to be positive….Looking at the growing demand for Ethereum futures and options, it seems to suggest that investors are still bullish on Ethereum with concentrated activity surrounding the expected launch date of ETH 2.0. Backed by other fundamental factors such as the fast-growing DeFi sector, the demand for Ethereum looks convincing….Retail investors who cannot afford to stake on the new network can gain leveraged exposure to Ethereum through USDT Futures contracts.