Ethereum (ETH) Up $1.3 On 4 Hour Chart, Started Today Down 0.57%; in an Uptrend Over Past 90 Days

Ethereum 4 Hour Price Update

Updated July 06, 2020 11:19 PM GMT (07:19 PM EST)

Ethereum is up 0.54% ($1.3) since the last 4 hour candle, marking the 5th candle in a row an increase has occurred. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 4th since the last 4 hour candle in terms of percentage price change.

Ethereum Daily Price Recap

Ethereum entered today at $228.03, down 0.57% ($1.31) from the previous day. The price move occurred on volume that was up 2.19% from the day prior, but down 32.52% 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. Here is a daily price chart of Ethereum.

Ethereum Technical Analysis

First things first: Ethereum crossed below its 50 day moving average yesterday. The clearest trend exists on the 90 day timeframe, which shows price moving up over that time. It should be noted, though, that a trend in the opposite direction, going down, exists on the 30 day timeframe. So if you expect the primary trend to resume, the counter trend may be providing an opportunity to buy dips. Or to view things another way, note that out of the past 10 days Ethereum’s price has gone down 6 them. Also, candlestick traders! Note we see pin bar pattern appearing here as well.

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 ceterispar1bus:

    If @thorchain_org works as envisioned for cross-chain swaps, it would make me more open to the idea that we’ll get dapps interacting cross-chain at some point as well. Would this impact the moat/network effects of DeFi on Ethereum? Eg. Take out loan on Ethereum to use on Polkadot

  • From twobitidiot:

    There are probably ~4-5 DeFi “products” with product-market fit right now.Bitcoin – digital gold
    Ethereum – digital asset creation & settlement
    Uniswap – permissionless exchange & market maker
    USDT/Dai – dollar-pegged, censor-resistant stablecoinsIt’s still so early.

  • From sassal0x:

    6/ What I think “the crowd” is getting wrong these days:- Many people still believe that eth2 isn’t ever going to launch
    – People are sleeping on how far layer 2 tech has come
    – Capital is still being misallocated to “Ethereum killers”

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

Altona testnet for Ethereum 2.0 successfully launched

If Altona goes according to the roadmap, a public test network will be launched and then the Ethereum 2.0 mainnet, the Beacon Chain, will be deployed….For the first time these clients are working together with the updated specification (0.12) of the Ethereum 2.0 mainnet and are an indispensable step in determining the next stages of the project, according to Altona’s GitHub page: Before such a mainnet can be launched, we need testnets that mimic mainnet conditions as good as possible….Altona testnet has launched!