Which cryptocurrencies have shown a strong correlation with the on balance volume indicator?

3 answers

• Feb 18, 2022 · 3 years ago
  Certainly! Several cryptocurrencies have shown a strong correlation with the on balance volume (OBV) indicator. Some of the notable ones include Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Litecoin (LTC). These cryptocurrencies have consistently exhibited a positive correlation with OBV, indicating that their trading volumes tend to align with the OBV indicator. It's important to note that correlation does not imply causation, but it can be a useful tool for identifying potential trends and patterns in the market.
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• Feb 18, 2022 · 3 years ago
  Oh yeah, there are definitely some cryptocurrencies that have a strong correlation with the on balance volume (OBV) indicator. Bitcoin (BTC) is a prime example. Its trading volume often aligns with the OBV indicator, indicating a positive correlation. Ethereum (ETH) and Ripple (XRP) have also shown similar patterns. So if you're looking for cryptocurrencies that tend to move in sync with OBV, these are some good options to consider.
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• Feb 18, 2022 · 3 years ago
  Based on my experience at BYDFi, I can tell you that Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) have all demonstrated a strong correlation with the on balance volume (OBV) indicator. These cryptocurrencies have consistently shown a positive relationship with OBV, suggesting that their trading volumes tend to move in tandem with OBV. However, it's important to conduct further analysis and consider other factors before making any investment decisions.
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