Ethereum (ETH) closes last hour down $ -0.93; It moves down for the second consecutive day


The hourly display for ETH

Last updated 27 October 2020, 01: 037 GMT

At the time of writing, the price of ETH has dropped $ -0.93 (-0.24%) from the previous hour. This is a reversal of the price action in the previous hour, in which the price has risen. Regarding the trend, note that the strongest trend exists in the 50 hour period. The moving averages on the hourly time frame suggest a discontinuity in price, as 20, 50, 100 and 200 are all in a mixed alignment, which means that the trend across time periods is inconsistent, indicating a potential opportunity for rangebound traders.

Ethereum Daily Price Summary

Ethereum arrived today down 3.25% ($ 13.19) since yesterday’s opening, marking the 2nd consecutive day there has been a decline. The price movement occurred on a stronger volume; in particular, yesterday’s volume increased by 122.78% compared to the previous day and by 65.13% compared to the same day the previous week. Compared to other instruments in the Top Cryptos asset class, Ethereum has ranked 5th since yesterday in terms of percentage change in price. Here is a chart of Ethereum’s daily price.


Ethereum technical analysis

Coming up to date, Ethereum’s current price is close to its 20-day moving averages; moving average crosses often indicate a change in momentum, so it may be worth keeping an eye on. Trending traders will want to observe that the the strongest trend appears on day 14 horizon; in that period of time, the price has risen. For further context, please note that the price has increased by 6 in the past 10 days.

Heard on Twitter

For laughs, quarrels, or really helpful information, let’s see what the most popular Ethereum-related tweets have been in the last day:

  • From sassal0x:

    I hate to say this but I feel that people outside the Ethereum space have no idea that what will be launched in 2020 is not the full Eth2 suite, so here’s a PSA: what will be launched this year is Eth2 Phase 0 which is Proof of Stake only – no sharding, no smart contracts, no txs.

  • From RyanSAdams:

    ETH will absolutely challenge BTC as money, it is already better money than BTC on Ethereum. ETH is the reserve currency of the largest trustless economy the world has ever seen.If you think ETH killer tokens are the same as ETH’s, you don’t understand Ethereum.

  • From ercule:

    Unpopular / Popular Opinions:
    – Ethereum will ride massively on “it’s an environmental cryptocurrency that doesn’t waste as much electricity as a country the size of Ireland” – meme. True or not, no education will stop this, regardless of how ETH2 really progresses.

As for a news related to Ethereum that is arousing some interest:

What is the potential impact of Ethereum 2.0 on the derivatives market? | Binance Blog

Below we look at several market indicators that could potentially reveal trader sentiment regarding ETH 2.0. Open interest on ETH futures remains strong on Binance Source: Open interest on Skew Ethereum futures on Binance has increased considerably since early 2020 …. The rise in open interest in the second half of 2020 could suggest that traders have placed long-term directional bets on Ethereum. Rising Futures Base Signals Investor Expectations Market analysts often turn to the futures market to understand market expectations …. The base represents the difference between the spot and futures prices of the underlying asset. In bull markets, futures prices are trading higher than in spot markets …. As such, the futures base tends to be positive …. Looking at the growing demand for Ethereum futures and options, it seems to suggest that investors are still bullish on Ethereum with activity concentrated around the expected launch date of ETH 2.0. Backed by other fundamental factors such as the fast growing DeFi sector, the demand for Ethereum looks compelling … Retail investors who cannot afford to bet on the new network can gain leveraged exposure to Ethereum through USDT Futures contracts.

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