If you have been following you will know that I just said I thought Ethereum may be at a good buying opportunity. Then exactly like I predicted…oh wait. Then exactly unlike I predicted Ethereum dropped pretty strongly below its 200 day moving average. That is not a good sign in my opinion, but I still find myself bullish on Ethereum. No support like a 200 day moving average is an exact yes or no indicator. If we take a look at Bitcoin it had a similar drop, but is still not quite at its 200 day moving average. However, the total crypto market cap has broken through its 200 day moving average. So we have a mix of signals here. My active trading strategies at Collective2 were mostly out of crypto already. However, my discretionary trading elsewhere does still have some crypto exposure. I am still hopeful that the bull trend in crypto continues but it certainly isn’t a great sign that the total market cap and Ethereum have both broken their 200 day moving average.
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