ARDRBTC closes within previous day's range
Ardor/Bitcoin Index (ARDRBTC) Technical Analysis Report for Aug 11, 2018 | by Techniquant Editorial Team
ARDRBTC finished Saturday at 0.00001837 gaining BTC0.00000011 (0.6%) on low volume. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (ARDRBTC as at Aug 11, 2018):
Saturday's trading range was BTC0.00000175 (9.55%), that's slightly below last trading month's daily average range of BTC0.00000192. Things look different on a weekly scale, where volatility is below the markets average with the monthly volatility being slightly below average.
After moving lower in the previous session, Ardor managed to close higher but below the prior day's open, forming a bullish Harami Candle.
Prices are trading close to a key support level at 0.00001734. After having been unable to move lower than 0.00001810 in the previous session, ADRD found buyers again around the same price level today at 0.00001811.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Selling might speed up should prices move below the close-by swing low at 0.00001732 where further sell stops could get activated.
With seven out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are XRPUSD losing -8.28% and ETHUSD closing -6.98% lower. None of the markets managed to end the day in the green. Looking at the other Minor Cryptocurrencies, the winners of the day have been BTCCNY surging 5.28% and WAVESBTC closing 1.9% higher. The worst performers of the day have been ELFBTC tanking -13.38% and IOTUSD closing -12.28% lower. Read more