ETHUSD Coinbase - Looking for Entry

11 lug 2021

Etherum has had a great long term run since April of last year. The overall trend of the coin is still ok. I look to make sure the price is still above the 200 day EMA which it is right at that point. I am looking for entry here, though the Supertrend still has not given a good indicator to re-enter. As long as the price stays above the EMA once Supertrend goes green I will probably make the entry. But like most coins right now there is a chance the trend will continue and entry will have to wait.

Their is no set pattern over the last year showing how ETH acts. The last time it dipped to a downtrend it was for a few months but before then it lasted almost a half a year before it recovered in April 2020. We are at another consolidation period as the trading has gone horizontal with low volume and in a slump like BTCUSD. Both coins are in a strange holding pattern waiting for the next breakout.

If BTCUSD breaks out like I hope as I believe it will after a two month slump, I think ETHUSD will see some momentum and start to trend up, though we will know more within the next few days. I am holding off entering until we know where the trend is taking us.