Is Ethereum Fighting Toward a Breakout?
Ethereum took a beating along with other cryptos in late May, but now the bears may be losing their influence.
This chart shows the 18-day exponential moving average (EMA), along with our custom script Moving Average Speed.
The two studies show how ETHUSD can trend higher when it’s above the 18-day EMA. It also struggles once lower prices drag the average lower.
Notice how ETHUSD’s initial bounce on May 26 stalled near the 18-day EMA. Also notice how it’s now turning to challenge that line. A successful break above the average could signal a change in the shorter-term trend.
It’s also interesting that the No. 2 crypto has managed to stabilize above its 100-day simple moving average (SMA), while Bitcoin hasn’t yet reclaimed even its 200-day SMA.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
This chart shows the 18-day exponential moving average (EMA), along with our custom script Moving Average Speed.
The two studies show how ETHUSD can trend higher when it’s above the 18-day EMA. It also struggles once lower prices drag the average lower.
Notice how ETHUSD’s initial bounce on May 26 stalled near the 18-day EMA. Also notice how it’s now turning to challenge that line. A successful break above the average could signal a change in the shorter-term trend.
It’s also interesting that the No. 2 crypto has managed to stabilize above its 100-day simple moving average (SMA), while Bitcoin hasn’t yet reclaimed even its 200-day SMA.
TradeStation is a pioneer in the trading industry, providing access to stocks, options, futures and cryptocurrencies. See our Overview for more.
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