Ethereum (ETH) Closes Last Hour Down $-3.89; in an Uptrend Over Past 90 Days, Moves Down For the 2nd Day In A Row

The Hourly View for ETH

Last Updated December 22, 2020, 05:016 GMT

Currently, Ethereum’s price is down $-3.89 (-0.64%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved up. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 20 hour moving average has been crossed, with price now being below 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

Ethereum is down 4.74% ($30.27) since the previous day, marking the 2nd day in a row a decline has happened. The price move occurred on stronger volume; specifically, yesterday’s volume was up 57.52% from the day prior, and up 200.1% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 2nd since the previous day in terms of percentage price change. Below is a daily price chart of Ethereum.

Ethereum Technical Analysis

The first thing we should note is that Ethereum is now close to its 20 day averages, located at 598.93 respectively, and thus may be at a key juncture along those timeframes. 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. For another vantage point, consider that Ethereum’s price has gone up 8 of the previous 14 trading days.

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 udiWertheimer:

    bitcoin is now seen by the elite as a hedge against inflation.to remain competitive, the ethereum community would do well to make eth inflation-resistant too.why don’t they do this? because it’s PHYSICALLY IMPOSSIBLE.no altcoin can do this. it has nothing to do with code.

  • From hudsonjameson:

    After 4 years of facilitating the bi-weekly Ethereum Core Developer meetings (aka AllCoreDevs calls) I’ve decided to step down from that role. The fantastic @TimBeiko will be replacing me in this role after the Berlin hard fork. Thread:

  • From MANTRADAO:

    🚨 $OM V2 Swap & Migration UPDATE 🚨We’re glad to have resolved the issue related to the high gas fees:)Please Be Aware! The gas fees are still subject to the speed & congestion of the #Ethereum network! We are continuing to work on additional UI improvements as well🕉️🕉️

In terms of news links for Ethereum here’s one to try:

RedFOX Labs to Run a Chainlink Node to Deliver WAX eSports and Gaming Data to Ethereum

As a platform supporting the development of esports and gaming applications on the WAX blockchain, we plan to use the RedFOX Chainlink node to make data generated by those applications available on Ethereum, supporting a new crop of metaverse NFTs. By running a Chainlink node, we have the unique ability to broadcast WAX gaming and esports data captured by our API directly on to the various other blockchains, starting first with Ethereum….This will accomplish several key objectives: enable the generation of Ethereum NFTs based on WAX gaming data, allow users to actively participate in the WAX gaming ecosystem without leaving Ethereum, and empower RedFOX to greatly expand its addressable market as a blockchain data provider, which can serve as the basis for expanding to other blockchains in the future.  RedFOX Labs helps game producers build on-chain rewards as NFTs, which we have called KOGs on the WAX blockchain.