LSKUSD closes higher for the 2nd day in a row
LSK/US Dollar Index (LSKUSD) Technical Analysis Report for Nov 10, 2019 | by Techniquant Editorial Team
Moving higher for the 2nd day in a row, LSKUSD finished Sunday at 0.78 gaining $0.01 (1.3%). Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Daily Candlestick Chart (LSKUSD as at Nov 10, 2019):
Sunday's trading range has been $0.03 (3.9%), that's below the last trading month's daily average range of $0.04. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for LSKUSD.
One bearish candlestick pattern matches today's price action, the Bearish Hikkake Pattern. The last time a Bearish Hikkake Pattern showed up on Wednesday, LSKUSD lost -3.66% on the following trading day.
The cryptocurrency managed to close back above the 20-day moving average at 0.78.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
Buying could accelerate should prices move above the close-by swing high at 0.82 where further buy stops might get activated. Selling could speed up should prices move below the nearby swing low at 0.74 where further sell stops might get triggered.
Among the five market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Bearish Hikkake Pattern" stand out. Its common bearish interpretation has been confirmed for LSK/USD. Out of 45 times, LSKUSD closed lower 55.56% of the time on the next trading day after the market condition occurred.
With six out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are BCHUSD gaining 3.73% and EOSUSD closing 3.16% higher. On the flipside the worst performer has been XRPUSD closing -0.14% lower. Looking at the other Minor Cryptocurrencies, the winners of the day have been XLMUSD surging 8.52% and VETBTC closing 6.78% higher. The worst performers of the day have been KMDBTC tanking -9.82% and KMDUSD closing -7.06% lower. Read more