Ethereum 4 Hour Price Update
Updated August 24, 2020 01:37 AM GMT (09:37 PM 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 391.97 US dollars, down 0.52% ($2.03) 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
Ethereum entered today at $390.72, down 1.2% ($4.74) from yesterday. This move happened on lower volume, as yesterday’s volume was down 42.91% from the day before — and down 14.77% from the same day the week before. On a relative basis, Ethereum was the worst performer out of all 5 of the assets in the Top Cryptos asset class during yesterday. Let’s take a look at the daily price chart of Ethereum.
Ethereum Technical Analysis
The first thing we should note is that the current price of Ethereum is sitting close to its 20 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Price action traders in particular will want to note that the 14 day period appears to show price forming a base; this could indicate that a support/resistance level is developing. For another vantage point, consider that Ethereum’s price has gone up 7 of the previous 14 trading days.
Overheard on Twitter
Over on Twitter, here were the top tweets about Ethereum:
- From ameero1:
1. I think $dot @Polkadot will become the third larger project (in marketcap) in the entire cryptospace.1. Bitcoin
3. Polkadot This technology is a game changer for the entire industry, and will enable the @web3foundation vision of a more open and fair internet
- From sassal0x:
1/ DeFi is a Zero to One InnovationDeFi protocols are not just another “fintech” company that builds on top of the old financial rails – DeFi is being deployed to new rails that are being built from scratch on top of Ethereum.
- From netuoso:
@VitalikButerin @VulturesPick I know you are just a person and it isn’t good to idolize someone but you are extremely well respected in this industry and it means a lot to me personally to see your kind words about #HiveSoon #Hive will be able to swap with Ethereum via smart contracts making us even closer!
For a longer news piece related to ETH that’s been generating discussion, check out:
Zaigar Drops Ethereum ERC-20 Token For Dash Saving Thousands of Dollars in Fees – Crypto Daily™
As Bitcoin and Ethereum fees spike, Dash has managed to maintain very low transaction fees despite continued increases in transactions over the last two years….It uses a seven-day average to compare the median transaction fees and the active address count for Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Dash. Dash has the lowest fees and maintains a high active address count. At the time of writing, Coinmarketcap.com lists Dash in 24th place with a market capitalization of $875,947,102….Even though Dash is outperforming Bitcoin Cash, it’s currently valued close to six times higher than Dash. Dash saw a 104% rise in commercial payments through Q1 2020, along with increased trading volume and improved price performance. We reached out to Dash Trust Protector Mark Mason for comment on Zaigar’s switch to using Dash and what this means for the blockchain industry as a whole….This makes Dash the perfect digital cash payments solution for not only businesses like Zaigar, but also for users, merchants, exchanges, and traders that benefit from Dash’s low cost, security, and fast confirmation times.” When prompted for comment on the topic of Ethereum 2.0 and how validator nodes will help to scale and reduce transaction fees, Mr Mason also told Cointelegraph: “The whole crypto industry is on the edge of their seats awaiting the upcoming Ethereum 2.0 switch from PoW to PoS.