- Cryptocurrency trader and analyst reveals that there is no clear buy signal for ETH.
- The analyst referenced Ethereum’s MVRV Momentum indicator in his analysis.
- A significant bullish technical flag was on the verge of being triggered on ETH’s daily chart.
The cryptocurrency trader and analyst Ali shared his belief that Ethereum (ETH) may not present a buy opportunity any time soon. According to an X post published yesterday, the analyst revealed that the MVRV Momentum indicator for ETH shows that there is no clear buy signal for the altcoin leader in sight.
#Ethereum MVRV Momentum indicator has been invaluable in guiding my buy or sell decisions for $ETH.As of now, there is no buy signal in sight! pic.twitter.com/lfCbrp6WT4
— Ali (@ali_charts) October 19, 2023
Despite Ali not identifying a clear buy signal for ETH, the altcoin was able to achieve a gain over the past 24 hours. According to data from the cryptocurrency market tracking website CoinMarketCap, ETH’s price had risen 2.25% throughout the past day of trading.
As a result, the cryptocurrency was changing hands at $1,585.40 …
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