GoNoGo shows ETHUSD is unable to trend
With Bitcoin falling back from 10,000 let’s take a look at Ethereum, one of the most traded cryptocurrencies. After rising since the last “Go” on April 16th, the coin has consolidated and traded sideways since the end of April.
During this time, we have noticed reduced volatility and reduced volume as we can see from the GoNoGo Squeeze and the Oscillator struggling with the zero line. In the price chart, the current bar is amber, meaning that there is no trend identified. Remember, this often happens as a bridge between trends or in prolonged consolidation.
Look for the next move of the GoNoGo Oscillator to indicate the direction of Ethereum’s next move.
During this time, we have noticed reduced volatility and reduced volume as we can see from the GoNoGo Squeeze and the Oscillator struggling with the zero line. In the price chart, the current bar is amber, meaning that there is no trend identified. Remember, this often happens as a bridge between trends or in prolonged consolidation.
Look for the next move of the GoNoGo Oscillator to indicate the direction of Ethereum’s next move.
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