A Trade A Day: ETH

StatsEdgeTrading

Bitcoin and, to a lesser extent, Ethereum have been flirting with all-time highs. Today, I noticed that with Bitcoin flat, ETH is up 2.5%, showing some great relative strength in the crypto space today.

Looking quickly at the chart, it continues to find support at the AVWAP from the March highs. I think that makes the trade pretty simple if we are able to continue to hold that AVWAP I am going to be long ETH and if we close below it, it will be time to move on.