ETHJPY dominated by bears dragging the market lower throughout the day
Moving lower for the 2nd day in a row, ETHJPY ended Saturday at 34491.82 losing ¥2412.70 (-6.54%). Today's closing price of 34491.82 marks the lowest close since November 12, 2017. The bears were in full control today, moving the market lower throughout the whole session. Closing below Friday's low at 36263.69, ETH confirms its breakout through the previous session's low having traded ¥2014.08 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 ¥2901.69 (7.83%), that's slightly above last trading month's daily average range of ¥2485.00. Weekly volatility is also higher, being way above the markets average with the monthly volatility being slightly above average.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
While classical technical analysis indicates a slightly bearish sentiment for the next trading day, our quantitative statistics show a different picture being bullish.
Market Conditions for Ethereum/JPY Index
|Strong Up Move||TQ Pro Members Only|
|Decisive Up Move||TQ Pro Members Only|
|White Candle||TQ Pro Members Only|
|Close to S1 Support||TQ Pro Members Only|
|Price broke through Technical Resistance R1||TQ Pro Members Only|
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Related Crypto Currencies