Ethereum (ETH) Down $0.98 in Last 4 Hours, Makes Big Move Relative to Two Week Trend; Started Today Down 7.18%

Ethereum 4 Hour Price Update

Updated June 12, 2020 01:37 AM GMT (09:37 PM EST)

Ethereum came into the current 4 hour candle down 0.42% ($0.98) from the open of the previous 4 hours, marking the 5th candle in a row a decrease has occurred. Out of the 5 instruments in the Top Cryptos asset class, Ethereum ended up ranking 3rd for the four-hour candle in terms of price change relative to the previous 4 hours.

Ethereum Daily Price Recap

230.21 (USD) was the opening price of the day for Ethereum, resulting in yesterday being one in which price moved down 7.18% ($17.8) from yesterday. The price move occurred on stronger volume; specifically, yesterday’s volume was up 86.7% from the day prior, and up 79.57% from the same day the week before. Relative to other instruments in the Top Cryptos asset class, Ethereum ranked 2nd since yesterday in terms of percentage price change. Below is a daily price chart of Ethereum.

Ethereum Technical Analysis

First things first: Ethereum crossed below its 20 day moving average yesterday. 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. The clearest trend exists on the 30 day timeframe, which shows price moving up over that time. For additional context, note that price has gone up 5 out of the past 10 days.

Overheard on Twitter

Behold! Here are the top tweets related to Ethereum:

  • From LefterisJP:

    Am I the only one who really dislikes it when by just visiting an #ethereum related URL one or multiple metamask popups appear?As a user I expect all websites to work without metamask and for me to be able to enable it via some button like @MakerDAO ‘s Oasis does.

  • From Byemijnr:

    @instablog9ja Right now, 1 Bitcoin is #3.9million while 1 Ethereum is #99,000. I just discovered a way to accumulate ethereum within a short time. You can earn 150eth or $30,000 in (6months). When you convert that, its worth over #3million.
    Interested to join just Dm
    This is my own work

  • From CryptoMichNL:

    Ethereum at $250: ‘Nah, I’m going to keep this one for $280.’
    Ethereum at $225: ‘Ooh shit, it’s not going to $280, I sell’.Ethereum at $250: ‘Yeah, that looks good, I’ll buy.’
    Ethereum at $225: ‘Nah, that looks shit, not interested.’Reverse your thinking.$ETH

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

Breaking Down ETH 2.0 – The Next Generation of Ethereum

The changes that this upgrade is going to bring in a host of changes like – proof-of-stake, Sharding, eWASM, Plasma, and the Raiden Network.  Ethereum 2.0 has been an open secret for quite some time now….Image Credit: Plasma Whitepaper Let’s break down the functionalities: If properly implemented, the Plasma protocol will allow Ethereum to speedily and efficiently execute vast amounts of data, without clogging up the main blockchain.  The next significant update to consider here is eWASM….Another thing to keep in mind is that the original Ethereum POW chain will continue to exist along with the beacon chain in the early phases….In fact the beacon chain is not going to be particularly useful in the early stages since it will be able to do the three most important things that an Ethereum chain should be able to do – process transactions, execute smart contracts, or host dApps.  However, Ethereum has purposefully done this….For ETH 2.0, the Sharding will result in the blockchain partitioning into 64 shard chains that will run parallelly and should be able to communicate with each other easily….With the implementation of POS and Sharding, it will be exciting to see how Ethereum’s throughput improves.  Beyond Phase 2, there should be more opportunities to increase the overall reach and functionality of the Ethereum network.