ETHUSD pushes through key resistance level

Ethereum/USD Index (ETHUSD) Technical Analysis Report for Apr 15, 2018

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

Condition Forecast Direction Win Rate Exit Day Events
2 Consecutive Lower Closes TQ Pro Members Only
Close near low of period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Bearish Outside Bar TQ Pro Members Only
High close to previous High TQ Pro Members Only
More market conditions identified for TQ Pro members...
Learn more about TQ Pro
Trending Assets

Upgrade your trading!

Get the stats behind the charts

Find out what happened when Ethereum/USD 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

BTCEUR 10 day candlestick chart for BTCEUR 5,375.62 -223.54 (-3.99%)
BTCUSD 10 day candlestick chart for BTCUSD 6,273.43 -232.54 (-3.57%)
ETHBTC 10 day candlestick chart for ETHBTC 0.03155 -0.00234 (-6.90%)
ETHEUR 10 day candlestick chart for ETHEUR 169.35 -20.12 (-10.62%)
ETHUSD 10 day candlestick chart for ETHUSD 197.55 -22.62 (-10.27%)
LTCBTC 10 day candlestick chart for LTCBTC 0.00836 -0.00039 (-4.46%)
LTCEUR 10 day candlestick chart for LTCEUR 44.88 -4.14 (-8.45%)
LTCUSD 10 day candlestick chart for LTCUSD 52.40 -4.49 (-7.89%)
You have free reports remaining. Subscribe for unlimited access...SUBSCRIBELOGINGO!