EOSUSD runs into sellers around 5.53 for the third day in a row
EOS/US Dollar Index (EOSUSD) Technical Analysis Report for Sep 15, 2018 | by Techniquant Editorial Team
EOSUSD finished Saturday at 5.40 gaining $0.16 (3.05%) on low volume. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session.
Daily Candlestick Chart (EOSUSD as at Sep 15, 2018):
Saturday's trading range was $0.32 (6.12%), that's below last trading month's daily average range of $0.49. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
During the whole day, prices traded within the prior day's range, unable to trade above the previous day's high or below the prior day's low forming an Inside Bar.
Prices are trading close to the key resistance level at 5.65. The market ran into sellers again today around 5.53 for the third trading day in a row after having found sellers at 5.54 in the previous session and at 5.55 two days ago.
While EOS is experiencing a short-term up trend, this could just be a correction, as both the medium and long term trends are still in negative territory.
Buying might speed up should prices move above the close-by swing high at 5.55 where further buy stops could get activated.
With five out of the other six Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are ETHUSD gaining 6.08% and ETCUSD closing 3.28% higher. On the flipside the worst performer has been LTCUSD closing -0.21% lower. Looking at the Minor Cryptocurrencies, the winners of the day have been ETHCNY surging 11.52% and KCSBTC closing 6.75% higher. The worst performers of the day have been ETHGBP tanking -8.43% and NANOBTC closing -5.24% lower. Read more