The Hourly View for ETH

Last Updated June 30, 2021, 12:17 GMT

At the time of this writing, Ethereum’s price is up $2.67 (0.12%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as Ethereum has now gone up 4 of the past 5 hours. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe. Price action traders may also wish to note that we see a pin bar candlestick pattern on Ethereum. Given that we see an uptrend on the 20 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting. With that said, traders should also note the downtrend on the 20 hourly candle timeframe, so the meaning of the candles may require further exploration. 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 3.93% ($81.81) from the open of the day prior, marking the 4th day in a row it has gone up. This move happened on lower volume, as yesterday’s volume was down 24.3% from the day before — and down 68.67% from the same day the week before. Those trading within the Top Cryptos asset class should know that Ethereum was the worst performer in the class during the day prior. Here is a daily price chart of Ethereum.

Ethereum Technical Analysis

Coming into today 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. The clearest trend exists on the 30 day timeframe, which shows price moving down over that time. Also of note is that on a 90 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 16 out of the past 30 days.

Overheard on Twitter

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

• From nystorageking:
  

  MAJOR GIVEAWAY ALERT
  THANKS TO @plumb_matthews for donating 1 BILLION $eMax Tokens to show the community love! Here’s the catch: BY 9PM EST this tweet must have 300RTs, then we will pick 1 lucky winner. Don’t forget to tune in to the #eMax AMA & follow @Ethereum_Max

• From udiWertheimer:
  

  thinking about how 2 months ago i went onan ethereum podcastto shill binance’s altcoinin order to score a $100k donation to an altcoin fund…and bitcoiners didn’t cancel mebut they did cancel breedlove because he said bitclout twice and donated $30k to bitcoin core devs

• From IvanOnTech:
  

  Ethereum inflation will drop by 87.5% this year Price will probably dance Crypto charts look horrible now but we still have 6 months left to deliver EOY pump Chances are still on our side

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

Mad Money’s Jim Cramer Moves From Bitcoin to Ethereum — Says ‘It’s More of a Currency’ – Bitcoin News

by
Kevin Helms
The host of the “Mad Money” show, Jim Cramer, has bought ether after dumping almost all of his bitcoin….The Mad Money host said last week that he would buy bitcoin again if its price falls to the $10K level.

The post Ethereum (ETH) Closes Last Hour Up $2.67; Moves Up For the 4th Day In A Row, in a Downtrend Over Past 30 Days, Price Base in Formation Over Past 90 Days appeared first on CFDTrading.