Is Ethereum Fighting Toward a Breakout?

BITSTAMP:ETHUSD   Ethereum / U.S. Dollar
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.