The Hourly View for ETH

Last Updated March 19, 2021, 09:016 GMT

Currently, Ethereum’s price is up $6.59 (0.36%) from the hour prior. The hourly chart shows that Ethereum has seen 2 straight up hours. From a hourly perspective, the market looks fairly choppy; clear trends aren’t showing up on the 20, 50 and 100 hour timeframes. Most noteworthy in the world of moving averages on the hourly chart is that the 200 hour moving average has been crossed, so that price is now turning above it. 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

The back and forth price flow continues for Ethereum, which started today off at 1776.16 US dollars, down 2.57% ($46.87) from yesterday. This move happened on lower volume, as yesterday’s volume was down 34.84% from the day before — and down 23.74% 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 moving averages, which may act as price barrier for the asset. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 16 out of the past 30 days. Traders may also wish to note that there is a bearish engulfing pattern in play, which suggests the uptrend on the 90 day charts, may be slowing down and ready to reverse.

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 sentosumosaba:
  

  The World Bank ran three Interledger nodes connected to two blockchain testnets (Ethereum and @Ripple XRPL) Party A sent #Ether and Party B’s node received #XRP, while a the third node acted as intermediary during the token exchange. ”. This is a very promising…1/3

• From sassal0x:
  

  In the future, Ethereum L1 will be generating billions of dollars in fee revenue per day.But these fees will not be paid by individual users – they will be paid by Ethereum L2’s.And with EIP-1559, a lot of these fees will be burned.Thus, $ETH is ultra sound money.

• From ercwl:
  

  It’s easy to solve Ethereum’s scalability issues:
  1. Clone the EVM and say it’s better
  2. Do ICO
  3. Now have bunch of money
  4. Tell people to try your chain it’s better
  5. They try it and it’s better (because no users)
  6. Price goes up 10x
  7. Acquire everyone and everything

For a longer news piece related to ETH that’s been generating discussion, check out:

Technical Overview of ZAP, Chainlink and Ethereum: ZAP/USD Sustains Upside Run Amid Dips on LINK and ETH

Decentralized blockchain platforms Ethereum and Chainlink also conceded to the bearish action across the market, recording massive price drops over the last two days….However, a resistance level at $0.4324 could provide a barrier for buyers, but if this level is breached, an even bigger rally could be on the cards.  The record high reached on ZAP/USD amid the recent crypto market correction reflects a positive investor sentiment on ZAP….After the loss of the MA 50 on the LINK/USD pair, while registering a low at the $26.40 level, the price now risks a steeper drop on breach of support at the ascending trendline….Otherwise, if the resistance provides a barrier, buyers could face initial upside friction from the $2,000 level….Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors….FXStreet has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.Any opinions, news, research, analyses, prices or other information contained on this website, by FXStreet, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice.

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