ADAUSD closes within previous day's range after lackluster session
Cardano/US Dollar Index (ADAUSD) Technical Analysis Report for Nov 09, 2019 | by Techniquant Editorial Team
ADAUSD ended Saturday at 0.0424 edging higher $0.0002 (0.47%). Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session.
Daily Candlestick Chart (ADAUSD as at Nov 09, 2019):
Saturday's trading range has been $0.0006 (1.42%), that's far below the last trading month's daily average range of $0.0023. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly higher than usual for ADAUSD.
During the whole day, prices traded within the previous day's range, unable to trade above the prior day's high or below the previous day's low forming an Inside Bar.
Although ADA/USD is experiencing a short-term uptrend, this could just be a correction, as both the medium and long-term trends are still bearish.
Selling might accelerate should prices move below the nearby swing low at 0.0410 where further sell stops could get triggered.
With five out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are LTCUSD gaining 2.57% and BCHUSD closing 1.29% higher. On the flipside the worst performers have been ETCUSD closing -0.8% lower and BTCUSD losing -0.16%. Looking at the other Minor Cryptocurrencies, the winners of the day have been KMDBTC surging 19.83% and KMDUSD closing 19.72% higher. The worst performers of the day have been SCBTC tanking -4.35% and PIVXBTC closing -4.06% lower. Read more