As we get over hump day this week, Coincodex is looking at the movement – though subtle – of the two major coin offerings on the U.S. exchange.
What they’re finding is a slight edge up for both Bitcoin (USD) and Ethereum (ETH); that’s at least a little bit of a boon to nervous day traders who want to see some indication other than a quiet straight line.
Much has been made of the lack of trading volume of these crypto coins at the beginning of the month – and now, after election day, we are seeing some green shoots emerge. For Bitcoin, this means hovering above the $6,500 level if only slightly.
In chart history, you can see how Bitcoin really locked in around this value weeks and weeks ago, which led the market to coalesce around $6,500 like a whole bunch of people sitting in a room waiting for a pot to boil.
As for Ethereum, it also is edging up today from yesterday – you see ETH above $200 and above its one day low as the market day continues. Of course, detractors say, Ethereum was up to $1000 a few months ago – but to traders who have their eye on the future, that’s old news. They’re looking for indicators of ETH moving above or below its benchmarking around $200.
To some short-term or long-term traders, now might be the time to jump on either Bitcoin or Ethereum, or a mix of the two – or, instead, you could try some plays on some of the altcoins we’ve reported on over the last two weeks, some of which have their own pretty big upsides.
The key is close research and training to recognize the trends that are going to support your portfolio positions. Take a look and see how we can help.