Ethereum (ETH) Price Near $377.97; Heads Down For the 2nd Consecutive Day, Price Base in Formation Over Past 30 Days

The Hourly View for ETH

Last Updated October 15, 2020, 19:15 GMT

At the time of this writing, ETH’s price is up $1.11 (0.29%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. 1 Of note is that the 50 hour changed directions on ETH; it is now pointing up. 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

Ethereum is down 0.62% ($2.37) since the day prior, marking the 2nd consecutive day a decline has happened. This move happened on lower volume, as yesterday’s volume was down 10.86% from the day before — and down 24.74% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 4th since the day prior in terms of percentage price change. The daily price chart of Ethereum below illustrates.

Ethereum Technical Analysis

Notably, Ethereum is now close to its 50 day averages, located at 370.19 respectively, and thus may be at a key juncture along those timeframes. The clearest trend exists on the 14 day timeframe, which shows price moving up over that time. Also of note is that on a 30 day basis price appears to be forming a base — which could the stage for it being a support/resistance level going forward. For additional context, note that price has gone up 9 out of the past 14 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 TheCryptoLark:

    Investors are currently buying #Apple valued at 2.1 trillion, and yields only 0.68% dividend. Yet some think that investors won’t buy #Ethereum which could yield 5% and only has a market cap of 43 billion! $eth will go insane over the next few years.

  • From ricburton:

    6 years ago I sat in a hacker house in San Francisco and listened to @gavofyork talk about how the big tech companies had way too much power and how blockchains like @ethereum could help swing the pendulum back towards the people.Today it feels like absolutely everyone agrees.

  • From Chloethedev:

    Imma publicly state this now… Because I know it’s gonna happen muhahhaha 🥰💞. I’m excited about @NEARProtocol (yes, mostly because of @mintbase), but there’s also some other cool stuff I’ve been learning about it along the way and gosh, Ethereum has been tough to play with.

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

Breitling Goes Live With Ethereum-Based System to Put All New Watches on the Blockchain – CoinDesk

So it’s not surprising that when it comes to stamping provenance on luxury items, Arianee is not alone.  Back in March of last year luxury brand conglomerate LVMH, owner of the Louis Vuitton label, said it was preparing to launch a blockchain-based authenticity system (code-named AURA)….But we would certainly be interested in speaking with them about ways to merge the projects or at least find ways to make them interoperable.” Sign up for our newsletter By signing up, you will receive emails about CoinDesk products and you agree to our terms & conditions and privacy policy The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies.