Ethereum 4 Hour Price Update
Updated May 26, 2020 01:35 AM GMT (09:35 PM EST)
Ethereum entered the current 4 hour candle at $204.34, down 0.24% ($0.5) from the last 4 hour candle. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 4th since the last 4 hour candle in terms of percentage price change.
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 204.1 US dollars, up 2.16% ($4.32) since the previous day. This move happened on lower volume, as yesterday’s volume was down 37.77% from the day before — and down 59.2% from the same day the week before. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 2nd for the day in terms of price change relative to the previous day. Here is a daily price chart of Ethereum.
Ethereum Technical Analysis
Notably, Ethereum crossed above its 20 day moving average yesterday. Price action traders in particular will want to note that the 30 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. Or to view things another way, note that out of the past 10 days Ethereum’s price has gone up 5 them.
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 d1dynasty_:
Even in Quarantine, people are still cashing out, My Friend just made 40K naira in 8 days from Ethereum 😂🔥🔥. I just started mine not too long and I got 10K naira already.Crypto is actually a legit business investment, if you’re interested, DM me.
- From AremexThaBest:
After seeing Arewa Twitter and abuja people flaunting rolls Joyce and Bentley today, I quickly decide that I will make it too in this life😭😭😭 ,Where are my friends that introduced me to Gifta world and Ethereum million money? M now ready ooo😤😤😤
- From The3D_:
The fact that even with these crazy tx fees we are still willing to interact with #Ethereum should be a clear sign for all of these “ethereum killers” of how much work they will need to do to achieve their goal, besides shiny whitepapers and astronomical TPS claims.
As for a news story related to Ethereum getting some buzz:
Ethereum Now Holds Four Times More Bitcoin Than The Lightning Network
The comparison admittedly isn’t too perfect in as far as one can’t easily run away with your coins in LN to the same degree as the defi consortium managing the tether like WBTC potentially could, but practically they both are effectively bitcoins with both having their own problems….The biggest problem for LN is that it can’t quite solve the double spending problem without practically requiring some intermediaries like trusted ‘watchtowers’ or ‘liquidity providers’ in addition to potential systemic issues that amount to the equivalent of a bank run if all tried to close their channels at the same time while the bitcoin network can’t handle the spike in demand.