The Hourly View for ETH
Last Updated March 3, 2021, 02:048 GMT
At the moment, ETH’s price is down $-6.63 (-0.43%) from the hour prior. It’s been a feast for bulls operating on an hourly timeframe, as ETH has now gone up 4 of the past 5 hours. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. Most noteworthy in the world of moving averages on the hourly chart is that the 50 hour moving average has been crossed, so that price is now turning below it. The moving averages on the hourly timeframe suggest a choppiness in price, as the 20, 50, 100 and 200 are all in a mixed alignment — meaning the trend across timeframes is inconsistent, indicating a potential opportunity for rangebound traders.
Ethereum Daily Price Recap
The choppiness in the recent daily price action of Ethereum continues; to start today, it came in at a price of 1488.67 US dollars, down 5.27% ($82.82) since the previous day. This move happened on lower volume, as yesterday’s volume was down 24.84% from the day before — and down 76.33% from the same day the week before. On a relative basis, Ethereum was the worst performer out of all 7 of the assets in the Top Cryptos asset class during the previous day. Below is a daily price chart of Ethereum.
Ethereum Technical Analysis
First things first: Ethereum crossed below its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 14 day horizon; over that time period, price has been moving down. For additional context, note that price has gone down 6 out of the past 10 days.
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 zhusu:
Here’s what’s generally needed for #Ethereum L2 mass adoption: h/t @Rewkang- metamask preset L2 and UX improvements for L2
– Exchanges allowing direct withdrawal to L2
– L2 to L2 and L2 to L1 efficient value transfer bridgesAny others missing? - From matiwinnetou:
Developers from Ethereum and Polkadot have this bizarre opinion that they should test in production with our own money. F*** that.I much prefer devnet approach of Cardano, test there, without real money until it is stable, bug free and formally verifiable – then release it.
- From Trader_XO:
As a developer I missed out on the early phases of Ethereum and Solidity smart contract development back in 2016/17. I played around but never kept at it.I’m not missing out on the opportunity of exploring Polkadot / Substrate with Rust and WASM!Dev passion re-ignited!
In terms of news links for Ethereum here’s one to try:
Full Ethereum Compatibility, Hack the System, February Update | by Li Jiang | Harmony | Mar, 2021 | Medium
We demonstrated how any developer can port an app to Harmony with the same Ethereum tooling and how they can take advantage of cross-chain assets….Come scale your Ethereum applications on Harmony with 2-second finality and low fees….February was another month of building with partners and developers to scale our cross-chain finance ecosystem.
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