How does the 200 day moving average impact the price of Ethereum?

1 answers

• Nov 25, 2021 · 3 years ago
  At BYDFi, we understand the importance of technical analysis in cryptocurrency trading. The 200 day moving average is a widely followed indicator that can have a significant impact on the price of Ethereum. When the price of Ethereum crosses above the 200 day moving average, it can attract the attention of traders and investors who use this indicator as a signal to enter or exit positions. This increased buying or selling pressure can cause the price of Ethereum to move in the direction of the breakout. However, it's important to note that the 200 day moving average is just one of many factors that can influence the price of Ethereum, and should be used in conjunction with other analysis tools and strategies for a comprehensive trading approach.
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