Ethereum (ETH) Down $1.55 On 4 Hour Chart, Started Today Down 1.04%; Pin Bar Pattern Appearing on Chart

Ethereum 4 Hour Price Update

Updated May 12, 2020 01:35 AM GMT (09:35 PM EST)

Ethereum came into the current 4 hour candle down 0.83% ($1.55) from the open of the previous 4 hours, marking the 3rd candle in a row a decline has happened. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 4th for the four-hour candle in terms of price change relative to the previous 4 hours.

Ethereum Daily Price Recap

Ethereum came into today down 1.04% ($1.96) from the open of the day prior, marking the 4th day in a row a decline has happened. This move happened on lower volume, as yesterday’s volume was down 45.34% from the day before — and down 3.25% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 2nd since the day prior in terms of percentage price change. Let’s take a look at the daily price chart of Ethereum.

Ethereum Technical Analysis

Coming into today Ethereum is now close to its 100 day moving averages, which may act as price barrier for the asset. Volatility for Ethereum has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For another vantage point, consider that Ethereum’s price has gone down 9 of the previous 14 trading days. As for those who trade off of candlesticks, we should note that we’re seeing pin bar pattern appearing here.

Overheard on Twitter

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

  • From CryptoFights:

    @1enjin @HuntersofRio @santoshroy @enjin They are paying us with technology that can do a LOT more than ethereum. We used and developed with ethereum for years before moving to BSV. We are not just doing items on-chain but our backend which is a huge deal in the blockchain gaming space. Everyone is doing layer 2 tech.

  • From Arturo_P_A:

    May 11, 2020.@FlareNetworks announced the launch of the “Coston Test Network”.Over the next quarter, Flare will be working to integrate #XRP with its Avalanch-based Turing-complete FBA sytem that leverages the Ethereum Virtual Machine to offer support for smart contracts.

  • From iamDCinvestor:

    Ethereum core devs shouldn’t be required to hold ETH.But if you don’t understand or don’t respect why ETH must have value in order to work, and why that value should be reasonably protected, then perhaps you shouldn’t be given the authority to make decisions over the protocol.

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

TRON Now Ranks Second After Ethereum (ETH) in the Issuance of USDT – Ethereum World News

#Ethereum News – The latest breaking news and stories about Ethereum World News The Tron network now hosts the second largest amount of Tether (USDT) after the Ethereum network….Tether (USDT) is the preferred stablecoin for many traders who want to wait out periods of market uncertainty.