Ethereum Finds Support At The 200-Day Moving Average
Ethereum has continued to find support at the 200-day moving average this year. I initially bought Ethereum in late June as it bounced off the 200-day moving average, and I added to my position this week as it once again found support at this key level. I initiated a pyramid buy around $3,380, but was knocked out of this add-on in September. Consequently, I wanted to wait to see support come in before I added back into my position. In addition, Ethereum's weekly chart looks really good and a breakout on volume above $4,000 opens the possibility of a major move higher. That's a level I will be watching closely in the coming weeks for another buying opportunity.
Risk right. Sit tight.
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Full Disclosure: I currently own Ethereum and Bitcoin.
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