The Long Investor

$ETH

Added 2024-07-01 13:22:31 +0000 UTC

I've been monitoring how Silver and $ETH have interacted with each other and have found some correlation, which is a good sign....as $ETH is to Silver, the same way Gold is to $BTC.

Both are suppose to be seen as the digital alternatives to Silver and Gold and $BTC was designed to be a safe haven store of value....and only recently have we seen a break away from $BTC moving with the market, which is also a good sign.

$SPY has been making new ATH's and $BTC has been struggling for support, down noticeably from its peak.

For $ETH, we can see a test of the 50 Day MA from below here, we would like to see this level flipped to support next, otherwise there may be another test of the wedge line again or the 200 Day MA at $3063 on the 0.78 Fib....either tests I am comfortable with.

I continue to like this set up and would consider adding my last buy soon.