ETHUSD pushes through key resistance level


Ethereum/USD Index (ETHUSD) Technical Analysis Report for Apr 15, 2018 [< 1 min read]
Highlights
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
Report Sentiment: 66% Bullish
Technical Forecast:
Overview

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
Volatility

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.

Support/Resistance

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

Trend

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.

Conclusion

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

Market Conditions for Ethereum/USD Index
ConditionForecastDirectionWinAvgWorstBestEvents
Closed below last periods low TQ Pro Members Only
2 Consecutive Lower Closes TQ Pro Members Only
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