Ethereum (ETH) Down $0.37 On 4 Hour Chart, Fares the Worst Out of Top Cryptos to Start the Day; Price Base in Formation Over Past 14 Days

Ethereum 4 Hour Price Update

Updated June 27, 2020 01:36 AM GMT (09:36 PM EST)

The back and forth price flow continues for Ethereum, which started the current 4 hour candle off at 229.64 US dollars, down 0.16% ($0.37) from the previous 4 hours. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 3rd for the four-hour candle in terms of price change relative to the previous 4 hours.

Ethereum Daily Price Recap

Ethereum closed yesterday down 1.24% ($2.89); this denotes the 4th day in a row a decrease has occurred. The price move occurred on volume that was down 25.85% from the day prior, but up 13.65% from the same day the week before. On a relative basis, Ethereum was the worst performer out of all 5 of the assets in the Top Cryptos asset class during yesterday. Here is a daily price chart of Ethereum.

Ethereum Technical Analysis

The first thing we should note is that the current price of Ethereum is sitting close to its 20 and 50 day moving averages; moving average crosses often indicate a change in momentum, so this may be worth keeping an eye on. 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. Also of note is that on a 14 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. Or to view things another way, note that out of the past 10 days Ethereum’s price has gone down 8 them.

Overheard on Twitter

Behold! Here are the top tweets related to Ethereum:

  • From AuntyAdaa:

    I Just keep seeing everyone posting about Ethereum, forsage and Million money, some even start showing balance of ethereum on their status updates claiming they’ve been making some increments from ethereum. And I wonder if this isn’t another ponzi scheme like MMM and co

  • From iamDCinvestor:

    It sucks to see use cases get priced out of L1, but it’s inevitable.The security of Ethereum L1 tx’s is immense, and IMO, the fee market has “mispriced” its value for years.L1 will become the settlement layer, where financial tx’s set the marginal tx price. L2 for all else.

  • From econoar:

    The goal post shifting is just incredible when it comes to Ethereum adoption. 2018: “There are no users”
    2019: “Ok, there are users but they are the SAME users”
    2020: “There are lots of users but they aren’t creating any REAL value”🙄🙄🙄

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

Ethereum developer reveals public, multi-client testnet for ETH 2.0 is a “week away” | CryptoSlate

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