Which cryptocurrencies have shown the strongest correlation with the MACD indicator recently?

3 answers

• Dec 27, 2021 · 3 years ago
  Bitcoin and Ethereum have shown a strong correlation with the MACD indicator in the past few weeks. This indicates that their price movements have been closely aligned with the MACD signals, making them potential candidates for traders who rely on this indicator for their analysis. However, it's important to note that correlation does not imply causation, and other factors should be considered before making trading decisions. It's always recommended to conduct thorough research and analysis before entering any cryptocurrency trade.
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• Dec 27, 2021 · 3 years ago
  Recently, the MACD indicator has shown a strong correlation with Ripple and Litecoin. This means that their price movements have been closely following the MACD signals, which can be useful for traders who use this indicator in their analysis. However, it's crucial to remember that correlation does not guarantee future price movements, and other factors should be taken into account. It's advisable to use the MACD indicator in conjunction with other technical analysis tools to make well-informed trading decisions.
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• Dec 27, 2021 · 3 years ago
  According to the data from BYDFi, the cryptocurrencies that have exhibited the strongest correlation with the MACD indicator recently are Bitcoin, Ethereum, and Ripple. This indicates that their price movements have been highly influenced by the MACD signals. Traders who rely on the MACD indicator may find these cryptocurrencies interesting to analyze. However, it's important to remember that correlation does not guarantee future price movements, and thorough analysis is always recommended before making any trading decisions.
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