The hourly display for ETH
Last updated November 5, 2020, 01: 036 GMT
Right now, the price of ETH is up $ 2.22 (0.55%) from the previous hour. This is a reversal of the price action in the previous hour, where the price has fallen. If you are a trend trader, consider that the strongest clear trend on the hourly chart exists in the 20 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 up 3.73% ($ 14.49) since the opening yesterday, marking the 2nd consecutive day there has been an increase. The price movement occurred on a stronger volume; in particular, yesterday’s volume increased by 82.49% compared to the previous day and by 32.74% compared to the same day the previous week. Ethereum has outperformed all 7 assets in the Top Cryptos asset class since yesterday. Below is a chart of Ethereum’s daily prices.
Ethereum technical analysis
Notably, Ethereum surpassed its 20-day moving average yesterday. Trending traders will want to observe that the the strongest trend appears on day 14 horizon; over that period of time, the price fell. For another plus point, consider that Ethereum’s price has risen by 17 of the previous 30 trading days.
Heard on Twitter
On Twitter, here are the best tweets on Ethereum:
- From kevinsekniqi:
Ethereum uses ~ 80 billion of gas per day. At that utilization rate on Avalanche at 4.7e-7 AVAX for gas, 38k AVAX would be burned each day, or 0.00528% of the entire supply. When a fast smart contract platform has limited supply and gas is burned per operation, something magical happens
- From Crypto___Oracle:
In the last three weekdays alone, Chainlink has announced ongoing integrations with four different blockchains: @ethereum, @cosmos, @Polkadot, and @maticnetwork. Chainlink is becoming the standard oracle in all blockchains, which will lead to a shared cost model across chains
- From ChainLinkGod:
@chainlink @ pappas9999 @ mdurkin92 @Tesla @elonmusk I think this is something you would be very interested in With @Tesla vehicles linked to smart contracts on Ethereum by leveraging Chainlink oracles, owners can rent their vehicles without incurring counterparty or intermediary risk that subtract value
In terms of news links for Ethereum, here is one for you to try:
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 risen 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 spot markets …. Therefore, the futures base tends to be positive …. Looking at the growing demand for Ethereum futures and options, it seems to suggest that the 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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