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Which cryptocurrencies have shown a strong correlation with the MACD indicator in the past?

avatarRickAnjosDec 28, 2021 · 3 years ago3 answers

In the past, which cryptocurrencies have demonstrated a significant correlation with the Moving Average Convergence Divergence (MACD) indicator?

Which cryptocurrencies have shown a strong correlation with the MACD indicator in the past?
Cryptocurrencies
MACD Indicator
Correlation

3 answers

  • avatarDec 28, 2021 · 3 years ago
    Bitcoin and Ethereum have historically shown a strong correlation with the MACD indicator. When the MACD line crosses above the signal line, it often indicates a bullish trend, while a cross below suggests a bearish trend. This correlation can be used by traders to make informed decisions on when to buy or sell these cryptocurrencies.
  • avatarDec 28, 2021 · 3 years ago
    Several altcoins, such as Litecoin, Ripple, and Bitcoin Cash, have also exhibited a notable correlation with the MACD indicator. Traders can use this information to identify potential trading opportunities and make more informed decisions based on the signals generated by the MACD indicator.
  • avatarDec 28, 2021 · 3 years ago
    According to a study conducted by BYDFi, a digital currency exchange, a strong correlation has been observed between the MACD indicator and cryptocurrencies like Bitcoin, Ethereum, and Litecoin. This correlation can be attributed to the popularity and widespread adoption of these cryptocurrencies, which makes them more susceptible to market trends and indicators like the MACD.

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