Ethereum (ETH) Price Near $506.33; But Still in an Uptrend Over Past 14 Days, Heads Down For the 2nd Consecutive Day

The Hourly View for ETH

Last Updated November 20, 2020, 23:16 GMT

At the time of this writing, ETH’s price is down $-2.03 (-0.4%) 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. As for the trend on the hourly timeframe, we see the clearest trend on the 100 hour timeframe. 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 closed yesterday down 1.45% ($6.94); this denotes the 2nd consecutive day it has gone down. As for how volume fared, yesterday’s volume was up 25.06% from the previous day (Wednesday), and up 116.84% from Thursday of the week before. Those trading within the Top Cryptos asset class should know that Ethereum was the worst performer in the class during yesterday. Here is a daily price chart of Ethereum.

Ethereum Technical Analysis

Volatility for Ethereum has been contracting over the past two weeks relative to volatility over the past month. Whether volatility reverts will be something to watch. 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 additional context, note that price has gone up 16 out of the past 30 days.