LSKBTC finds buyers at key support level
Lisk/Bitcoin Index (LSKBTC) Technical Analysis Report for Sep 15, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, LSKBTC finished Saturday at 0.000510 edging lower BTC0.000004 (-0.78%). Closing below Friday's low at 0.000513, the market confirms its breakout through the previous session's low having traded BTC0.000018 below it intraday. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (LSKBTC as at Sep 15, 2018):
Saturday's trading range was BTC0.000020 (3.91%), that's far below last trading month's daily average range of BTC0.000048. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly below average.
After trading as low as 0.000495 during the day, LSK/BTC bounced off the key support level at 0.000497. The failure to close below the support could increase that levels importance as support going forward.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Selling might speed up should prices move below the close-by swing low at 0.000477 where further sell stops could get activated.
With six out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are ETHUSD gaining 6.08% and ETCUSD closing 3.28% higher. On the flipside the worst performer has been LTCUSD closing -0.21% lower. Looking at the other Minor Cryptocurrencies, the winners of the day have been ETHCNY surging 11.52% and KCSBTC closing 6.75% higher. The worst performers of the day have been ETHGBP tanking -8.43% and NANOBTC closing -5.24% lower. Read more