ETHUSD Coinbase - Looking for Entry

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.

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.