XLMBTC breaks key support level


Stellar/BTC Index (XLMBTC) Technical Analysis Report for Aug 11, 2018 [< 1 min read]
Highlights
XLMBTC breaks key support level
XLMBTC finds buyers at key support level
XLMBTC finds support at 50-day moving average
XLMBTC closes within previous day's range
TQ Sentiment
Report Sentiment: 50% Bullish
Technical Forecast:
Overview

XLMBTC finished Saturday at 0.00003424 losing BTC0.00000173 (-4.81%). Closing within the prior day's range, prices failed to decisively move past the previous day's trading range.

Daily chart for XLMBTC
Volatility

Saturday's trading range was BTC0.00000349 (9.63%), that's above last trading month's daily average range of BTC0.00000269. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly below average.

Support/Resistance

After trading as low as 0.00003311 during the day, the cryptocurrency bounced off the key support level at 0.00003355. The failure to close below the support could increase that levels importance as support going forward. Breaking below the key support level at 0.00003536 today, it is now likely to act as resistance going forward. After trading as low as 0.00003311 during the day, XLM/BTC found support at the 50-day moving average at 0.00003406.

Trend

The market shows weakness in the short-term (in accordance with its long-term downtrend) with only the medium-term trend being bullish.

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 Stellar/BTC Index
Condition Forecast Direction Win Avg Worst Best Events
Bearish Break through SMA 50 TQ Pro Members Only
3 Consecutive Lower Closes TQ Pro Members Only
Close to R1 Resistance TQ Pro Members Only
Bearish Bounce off SMA 50 TQ Pro Members Only
Closed below last periods low 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 Stellar/BTC Index traded like this in the past. See the odds for each technical pattern with expected gain and loss.

Signup
Crypto Currencies Top Movers
ETHUSD 285.726.43 2.30%
INDU 25,558.73396.32 1.58%
CRUDE 65.450.55 0.85%
CAC 5,349.0243.80 0.83%
SPX 2,840.6922.32 0.79%
ASX 6,328.30-0.70 -0.01%
DXY 96.535-0.045 -0.05%
NKY 22,192.04-12.18 -0.05%
GOLD 1,181.0-0.8 -0.07%
HSI 27,100.06-223.53 -0.82%
Start your day with the facts moving the markets
By clicking "Subscribe", you agree to our terms and privacy policy.

Related Crypto Currencies

ETHUSD 10 day candlestick chart for ETHUSD285.72 6.43
2.30%
BTCEUR 10 day candlestick chart for BTCEUR5,534.92 11.97
0.22%
BTCJPY 10 day candlestick chart for BTCJPY699,504.34 8,416.74
1.22%
BTCCNY 10 day candlestick chart for BTCCNY44,882.98 -987.02
-2.15%
ETHEUR 10 day candlestick chart for ETHEUR251.33 5.24
2.13%
ETHJPY 10 day candlestick chart for ETHJPY31,741.35 929.07
3.02%
ETHCNY 10 day candlestick chart for ETHCNY2,037.69 -9.03
-0.44%
BTCGBP 10 day candlestick chart for BTCGBP4,948.90 15.29
0.31%
ETHGBP 10 day candlestick chart for ETHGBP224.68 4.54
2.06%
BTCUSD 10 day candlestick chart for BTCUSD6,294.08 27.35
0.44%