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ETHUSD pushes through key resistance level

Technical Analysis Report for ETHUSD - Apr 15, 2018 [< 1 min read]
ETHUSD pushes through key resistance level
ETHUSD dominated by bulls lifting the market higher throughout the day
ETHUSD closes higher for the 6th day in a row
ETHUSD ends the day on a bullish note closing near the high of the day
ETHUSD pushes through previous session high
TQ Sentiment
Technical Forecast:

Moving higher for the 6th day in a row, ETHUSD ended Sunday at 529.71 gaining $27.26 (5.43%). Today's closing price of 529.71 marks the highest close since March 23rd. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Saturday's high at 514.66, Ether confirms its breakout through the prior session's high having traded $16.04 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for ETHUSD

Sunday's trading range was $27.91 (5.55%), that's below last trading month's daily average range of $36.51. Things look different on a weekly scale, where volatility is slightly above the markets average with the monthly volatility being slightly below average.


Breaking through the key resistance level at 506.79 today, it is now likely to act as support going forward.


Though the cryptocurrency is experiencing a short-term up trend, this might just be a correction, as both the medium and long term trends are still in negative territory.


Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.

Report Market Conditions
Price broke through Technical Resistance R1 TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
Up Close near high of period TQ Pro Members Only
Decisive Up Move TQ Pro Members Only
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ETHUSD closes within prior day's range

Apr 21, 2018
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