BigBitsIO
Long

ETHBTC - Hoping to form new support

COINBASE:ETHBTC   Ethereum / Bitcoin
COINBASE:ETHBTC has been looking pretty strong lately. On the weekly chart it appears to be one of the leading altcoins (as expected) in trading vs. BTC . The weekly chart has several indicators now trending towards bullish bias. The daily chart that I'm highlighting however is not as clear at this moment. I've circled two areas of interest on the price chart. The first is the first test of the 100 day moving average which was denied. The second area is where that same 100 day moving average was broken, and is now holding as support for the time being.

The unclear indicators on the chart are the MACD hovering above 0 having already made a bullish run, and the Stochastic RSI stuck in the middle of the range. RSI itself still shows fairly bullish .

Personally, I feel like averaging in on ETH. Granted, I already have been averaging in due to the weekly chart, this potential new support on the 100 day, if it can hold can produce a run at the 200 day which is substantially higher.

DISCLAIMER: For educational and entertainment purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto. DYOR, TYOB.
DISCLAIMER: For educational and entertainment purposes only. Nothing in this content should be interpreted as financial advice or a recommendation to buy or sell any sort of security or investment including all types of crypto. DYOR, TYOB.
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