To create a trading plan for Ethereum (ETH), let's break down some popular trading pairs and strategies.
Popular ETH Trading Pairs
- *ETH/USD*: Ethereum to US Dollar, ideal for those who want to trade ETH against a stable fiat currency.
- *ETH/BTC*: Ethereum to Bitcoin, suitable for traders who want to capitalize on the relative performance of ETH against BTC.
- *ETH/USDT*: Ethereum to Tether, a stablecoin pegged to the US dollar, often used for hedging or taking advantage of market volatility ยน.
Trading Strategies
- *Bollinger Bands Trading Strategy*: Uses moving averages and standard deviations to determine volatility and identify trading opportunities.
- *Ichimoku Trading Strategy*: Provides multiple signals for entering and exiting trades, but can be complex for beginners.
- *Relative Strength Index (RSI) Trading