Ethereum (ETH) Closes Prior Hour Down -0.18%; Breaks Above 50 Day Average, Moves Up For the 5th Straight Day

The Hourly View for ETH

Last Updated October 12, 2020, 11:15 GMT

Currently, ETH’s price is down $-0.67 (-0.18%) from the hour prior. It’s been a feast for bears operating on an hourly timeframe, as ETH has now gone down 4 of the past 5 hours. 2 The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment — meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.

Ethereum Daily Price Recap

Ethereum came into today up 0.95% ($3.52) from the open of the day prior, marking the 5th straight day an increase has occurred. The change in price came along side change in volume that was down 44.74% from previous day, but up 12.86% from the Sunday of last week. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 2nd since the day prior in terms of percentage price change. Below is a daily price chart of Ethereum.

Ethereum Technical Analysis

Moving average crossovers are always interesting, so let’s start there: Ethereum crossed above its 50 day moving average yesterday. Or to view things another way, note that out of the past 30 days Ethereum’s price has gone up 19 them.