STRATUSD closes within prior day's range after lackluster session

Stratis/USD Index (STRATUSD) Technical Analysis Report for Sep 15, 2018

Highlights

STRATUSD closes below its opening price unable to hold early session gains
STRATUSD ends the day on a bearish note closing near the low of the day
STRATUSD runs into sellers again around 1.48
STRATUSD stuck within tight trading range
STRATUSD closes within previous day's range after lackluster session

TQ Sentiment

Report Sentiment: 50% Bearish
Technical Forecast:

Overview

STRATUSD finished Saturday at 1.40 losing $0.03 (-2.1%). Trading $0.04 higher after the open, the cryptocurrency was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range in a lackluster session. Ending with a weak close near the low of the day sets a bearish note for the next session.

Daily chart for STRATUSD

Volatility

Saturday's trading range was $0.09 (6.25%), that's below last trading month's daily average range of $0.14. Things look different on a weekly scale, where volatility is slightly below the markets average with the monthly volatility being slightly above average. Prices continued to consolidate within a tight trading range between 1.34 and 1.48 which it has been in now for the last three days.

Support/Resistance

After having been unable to move above 1.47 in the previous session, STRAT/USD ran into sellers again around the same price level today, failing to move higher than 1.48.

Trend

The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.

Order Flow

Buying could speed up should prices move above the nearby swing high at 1.51 where further buy stops might get activated. Further selling could move prices lower should the market test August's close-by low at 1.14.

Conclusion

While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bullish.

Market Conditions for Stratis/USD Index

Condition Forecast Direction Win Rate Exit Day Events
Close near low of period TQ Pro Members Only
Closed below last periods low TQ Pro Members Only
Close to Swing Low TQ Pro Members Only
Down Close Near Low of Period TQ Pro Members Only
RSI(2) below 20 TQ Pro Members Only
More market conditions identified for TQ Pro members...
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