The Hourly View for ETH

Last Updated October 29, 2020, 01:037 GMT

Currently, ETH’s price is down $-1.68 (-0.43%) from the hour prior. The hourly chart shows that ETH has seen 2 straight down hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 50 hour timeframe. The moving averages on the hourly timeframe suggest a bullishness in price, as the 20, 50, 100 and 200 are all in a bullish alignment — meaning the shorter durations are above the longer duration averages, implying a sound upward trend.

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 388.77 US dollars, down 3.71% ($14.97) since the day prior. This move happened on lower volume, as yesterday’s volume was down 28.8% from the day before — and down 73.4% from the same day the week before. Out of the 7 instruments in the Top Cryptos asset class, Ethereum ended up ranking 6th for the day in terms of price change relative to the day prior. The daily price chart of Ethereum below illustrates.

Ethereum Technical Analysis

The first thing we should note is that Ethereum is now close to its 20 and 100 day averages, located at 385.83 and 373.25 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 17 out of the past 30 days.

Overheard on Twitter

Over on Twitter, here were the top tweets about Ethereum:

  • From RyanSAdams:

    JP Morgan coin?No big dealIt’s just the largest bank in the U.S. creating an entire unit for digital currencies using a private Ethereum-based sidechainWatch the rest followAll bank ledgers are Ethereum sidechainsThey just don’t know it yet

  • From ChainLinkGod:

    @LegitoCrypto Chainlink is blockchain agnostic and can operate at the native speed of any underlying chainThe network is upgrading to off-chain reporting soon which will further lower costs and allow for more networksEthereum is where the vast majority of the current deamnd for oracles are

  • From Justin_Bons:

    Ethereum is positioned to inherit the Bitcoin throneThis path is not guaranteed but depended on further progressWhoever inherits the throne, will face the larger challenge of replacing the empire of fiatThis ultimate battle is all we should care about beyond petty tribalism

As for a news story related to Ethereum getting some buzz:

Ocean’s on Ethereum Mainnet. Ocean Protocol Network Deployments… | by Trent McConaghy | Oct, 2020 | Ocean Protocol

Ocean Protocol V3.0 is now deployed to Ethereum mainnet….We can deploy Ocean to Ethereum Mainnet now….Ocean V3.0 is deployed to Ethereum mainnet….OCEAN tokens remain on Ethereum mainnet; therefore no bridge to Ethereum mainnet is needed for utility of Ocean smart contracts….In all these deployments, OCEAN tokens will remain on Ethereum mainnet, and bridged to other networks….Ocean V3.0 has been deployed to Ethereum Mainnet.

(Excerpt) Read more Here | 2020-10-28 18:39:00
Image credit: source


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