Ethereum (ETH) Closes Prior Hour Down -0.43%; Pin Bar Pattern Appearing on Chart, 2 Day Up Streak Broken

The Hourly View for ETH

Last Updated November 19, 2020, 04:016 GMT

Currently, ETH’s price is down $-2.06 (-0.43%) from the hour prior. The hourly chart shows that ETH has seen 3 straight down 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 20 hour moving average has been crossed, so that price is now turning below it. 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

478.76 (USD) was the opening price of the day for Ethereum, resulting in the previous day being one in which price moved down 0.82% ($3.95) from the previous day. The change in price came along side change in volume that was down 32.59% from previous day, but up 41.83% from the Wednesday of last week. Out of the 7 instruments in the Top Cryptos asset class, Ethereum ended up ranking 2nd for the day in terms of price change relative to the previous day. The daily price chart of Ethereum below illustrates.

Ethereum Technical Analysis

Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving up. For another vantage point, consider that Ethereum’s price has gone up 16 of the previous 30 trading days. And for candlestick traders, a special treat: there is a pin bar pattern showing up on the charts as well. Rejoice!

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 VitalikButerin:

    @cryptonews @novogratz @ethereum It was the Ethereum Foundation, not me as an individual!I’m grateful to @novogratz and other early purchasers of the EF’s ETH. If it weren’t for them, perhaps the EF would not have survived financially and ethereum would have had a harder time growing to where it is today!

  • From TrustlessState:

    Here’s the plan: Pump $ETH to $10KEthereum now at $1.2T The Ethereum ecosystem has a Trillion $$ it didn’t haveWe invest these gains into new projects, seed investments, companiesThese companies build more products over 2-3 yearsThen $ETH is legitimately worth $10K

  • From scottmelker:

    There’s a famous saying that stocks are the only thing that people refuse to buy when they are on sale. This also seems to apply to Alts. Specifically Ethereum.I want $ETH on sale and continue to aggressively DCA.

As for a news story related to Ethereum getting some buzz:

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