ETHCNY pushes through key resistance level

Ethereum/CNY Index (ETHCNY) Technical Analysis Report for Sep 15, 2018

Highlights

ETHCNY pushes through key resistance level
ETHCNY dominated by bulls lifting the market higher throughout the day
ETHCNY pushes through previous session high
ETHCNY rises to highest close since September 5th

TQ Sentiment

Report Sentiment: 75% Bullish
Technical Forecast:

Overview

ETHCNY ended Saturday at 1632.14 gaining CN¥168.64 (11.52%). Today's closing price of 1632.14 marks the highest close since September 5th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 1534.75, the cryptocurrency confirms its breakout through the prior session's high having traded CN¥123.67 above it intraday.

Daily chart for ETHCNY

Volatility

Saturday's trading range was CN¥119.00 (7.7%), that's slightly above last trading month's daily average range of CN¥103.39. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly above average.

Support/Resistance

Breaking through the key resistance level at 1546.52 today, it is now likely to act as support going forward.

Trend

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

Conclusion

While classical technical analysis indicates a bullish sentiment for the next trading day, our quantitative statistics show a different picture being bearish.

Market Conditions for Ethereum/CNY Index

Loading Market Conditions for $ETHCNY (Ethereum/CNY Index)...
Latest Report:

ETHCNY breaks below prior session low

Sep 23, 2018
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Ethereum/CNY Index traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Find out more
Top Market Movers

Related Crypto Currencies

ADABTC 10 day candlestick chart for ADABTC 0.00001343 0.00000105 (8.48%)
ADAUSD 10 day candlestick chart for ADAUSD 0.0899 0.0068 (8.18%)
ARDRBTC 10 day candlestick chart for ARDRBTC 0.00001674 0.00000015 (0.90%)
BATBTC 10 day candlestick chart for BATBTC 0.00002618 -0.00000010 (-0.38%)
BATUSD 10 day candlestick chart for BATUSD 0.1756 -0.0022 (-1.24%)
BCHBTC 10 day candlestick chart for BCHBTC 0.0741 0.0017 (2.35%)
BCHUSD 10 day candlestick chart for BCHUSD 493.55 6.95 (1.43%)
BCNUSD 10 day candlestick chart for BCNUSD 0.002080 0.000067 (3.33%)
BTCCNY 10 day candlestick chart for BTCCNY 44,954.80 -3,844.10 (-7.88%)
BTCGBP 10 day candlestick chart for BTCGBP 5,145.17 -34.91 (-0.67%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!