With US equity markets closed for Juneteenth, I'm checking in on an equal weight basket of cryptos. Recently I said crypto looked to be heating up for a run at new highs.
As I look today, prices appear range bound on the daily chart. There's a bearish double-top formation, beside declining momentum. The bottom of the range resting at the 200 Day Moving Average, and a test of it seems likely.
Should there be a bounce off the 200 Day SMA, and a break through the top end of the range we might get a shot at those new All Time Highs.
As I look today, prices appear range bound on the daily chart. There's a bearish double-top formation, beside declining momentum. The bottom of the range resting at the 200 Day Moving Average, and a test of it seems likely.
Should there be a bounce off the 200 Day SMA, and a break through the top end of the range we might get a shot at those new All Time Highs.
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Disclaimer
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.