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.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.