ETHBTC plummets, loses BTC0.00324 (-5.99%) within a single day
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.
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.
Even though both sentiments are bearish for the next trading day, our quantitative statistics are only slightly bearish while the classical technical analysis metrics show a bearish sentiment.
Market Conditions for Ethereum/BTC Index
|Close to R1 Resistance||TQ Pro Members Only|
|Close to Swing High||TQ Pro Members Only|
|High close to previous High||TQ Pro Members Only|
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