Cryptogondor

What are moving averages? How effective is it?

1⃣Moving averages are indicators calculated by averaging the price of a coin in a certain period. Moving averages are also used when performing technical analysis on the price of a financial product. Because the moving average can give an idea about the direction of price movement and is also used to determine support and resistance points on the chart.

2⃣A moving average is a lagging indicator by nature. In other words, price movements occur first and then their averages are looked at. Therefore, it is not used to make predictions about future price movements, but to verify the analysis of the current status of the asset.

✅Conclusion: Moving average, one of the indispensable elements of technical analysis, is important to determine the direction and support resistance of the chart.

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