The Hourly View for ETH
Last Updated March 5, 2021, 02:048 GMT
At the time of this writing, ETH’s price is up $7.32 (0.5%) from the hour prior. This move is a reversal from the hour prior, which saw price move down. If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 20 hour timeframe. 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
1538.37 (USD) was the opening price of the day for Ethereum, resulting in yesterday being one in which price moved down 1.93% ($30.28) from yesterday. The change in price came along side change in volume that was up 11.56% from previous day, but down 19.98% from the Thursday of last week. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 2nd since yesterday in terms of percentage price change. Here is a daily price chart of Ethereum.
Ethereum Technical Analysis
Notably, Ethereum crossed below its 50 day moving average yesterday. Trend traders will want to observe that the strongest trend appears on the 90 day horizon; over that time period, price has been moving up. Traders will also want to note, though, that a counter trend — meaning a trend going down — can be seen on the 14 day timeframe. This may setup an interesting opportunity for traders looking to buy dips in anticipation of the primary trend resuming. Or to view things another way, note that out of the past 14 days Ethereum’s price has gone down 8 them.
Overheard on Twitter
Over on Twitter, here were the top tweets about Ethereum:
- From Coinborsa:
@DappRadar @cz_binance @ethereum @binance @BinanceChain We believed in BSC,but the recent increase in transaction fees is incredible and some icos in the bsc network have defrauded investors, why didn’t you stop it? How many of you listed coins from the BSC network on binance? 4 or 5? I think you don’t believe in your own bsc network?
- From QwQiao:
- From 42_paradox:
When #IOTA is ready with these sick smart contracts shit will hit the fan for Ethereum because DeFi, or like Ethereans call it “the Fee”, will be without those ridiculous costs and entry barriers.
Imagine DeFi on a scalable platform for zero costs: the real innovation petri dish.
As for a news story related to Ethereum getting some buzz:
Geth v1.10.0 | Ethereum Foundation Blog
Ethereum’s state trie is a Merkle tree, where the leaves contain the useful data and each node above is the hash of 16 children….For Geth, that topic is state pruning….When processing a new block, a node takes the current state of the network as input data and mutates it according to the transactions in the block, generating a new, output data….Execution time wise, pruning takes a few hours (greatly depends on your disk speed and accumulated junk), one third of which is indexing recent trie node from snapshots, one third deleting stale trie nodes and the last third compacting the database to reclaim freed up space….Ethereum has been around for a while now, and in its almost 6 years’ of existence, Ethereum’s users issued over 1 billion transactions….Geth v1.10.0 switches on transaction unindexing by default and sets it to 2,350,000 blocks (about 1 year).