ETHUSD: rangebound into year-end
Going into year-end ETH is trading inside a range - the 50day moving average and the 150 day moving average.
Having this chart as a guide takes a lot of the guess work away for me.
Key takeaways:
- It's in a holding pattern similar to the other red circled time periods.
- We want to see the 150dma continue to support price, but to get really bullish we need to see ETH back above the 50dma.
- Right now we're in neutral/negative territory on the daily time frame, but the dominant trend on the larger time frame remains up.
For those curious on the bar pattern indicator I'm using for this chart, it's the Modified-heiken-ashi-trendbars by Chris Moody
Having this chart as a guide takes a lot of the guess work away for me.
Key takeaways:
- It's in a holding pattern similar to the other red circled time periods.
- We want to see the 150dma continue to support price, but to get really bullish we need to see ETH back above the 50dma.
- Right now we're in neutral/negative territory on the daily time frame, but the dominant trend on the larger time frame remains up.
For those curious on the bar pattern indicator I'm using for this chart, it's the Modified-heiken-ashi-trendbars by Chris Moody
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