ETHBTC dominated by bulls lifting the market higher throughout the day
Ethereum/Bitcoin Index (ETHBTC) Technical Analysis Report for Sep 15, 2018 | by Techniquant Editorial Team
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.
Daily Candlestick Chart (ETHBTC as at Sep 15, 2018):
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.
With six out of the seven 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 other 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