ETHBTC dominated by bulls lifting the market higher throughout the day
Ethereum/BTC Index (ETHBTC) Technical Analysis Report for Sep 15, 2018
ETHBTC ended Saturday at 0.03415 gaining BTC0.00170 (5.24%). Today's closing price of 0.03415 marks the highest close since September 6th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 0.03403, Ethereum confirms its breakout through the previous session's high having traded BTC0.00067 above it intraday.
Saturday's trading range was BTC0.00249 (7.7%), that's slightly above last trading month's daily average range of BTC0.00216. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly above average.
Prices are trading close to the key resistance level at 0.03584.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying might speed up should prices move above the close-by swing high at 0.03584 where further buy stops could get triggered.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
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