ETHBTC plummets, loses BTC0.00324 (-5.99%) within a single day

Ethereum/Bitcoin Index (ETHBTC) Technical Analysis Report for Aug 11, 2018 | by Techniquant Editorial Team


ETHBTC crashes, loses BTC0.00324 (-5.99%) within a single day
ETHBTC dominated by bears dragging the market lower throughout the day
ETHBTC closes lower for the 3rd day in a row
ETHBTC ends the day on a bearish note closing near the low of the day
ETHBTC breaks below previous session low


Moving lower for the 3rd day in a row, ETHBTC finished Saturday at 0.05086 tanking BTC0.00324 (-5.99%) on low volume. This is the biggest single day loss in over two weeks. Today's closing price of 0.05086 marks the lowest close since December 29, 2017. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 0.05370, Ether confirms its breakout through the previous session's low having traded BTC0.00307 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily Candlestick Chart (ETHBTC as at Aug 11, 2018):

Daily technical analysis candlestick chart for Ethereum/Bitcoin Index (ETHBTC) as at Aug 11, 2018

Saturday's trading range was BTC0.00346 (6.41%), that's far above last trading month's daily average range of BTC0.00198. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly below average.

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

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 ETCUSD closing -7.72% 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 IOTBTC closing -11.22% lower. Read more

Market Conditions for ETHBTC as at Aug 11, 2018

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