XMRBTC breaks below previous session low
XMR/Bitcoin Index (XMRBTC) Technical Analysis Report for Aug 11, 2018 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, XMRBTC finished Saturday at 0.01464 losing BTC0.00026 (-1.74%) on low volume. Today's closing price of 0.01464 marks the lowest close since November 7, 2017. Trading BTC0.00019 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 below Friday's low at 0.01481, XMR confirms its breakout through the previous session's low having traded BTC0.00021 below it intraday. Ending with a weak close near the low of the day sets a bearish note for the next session.
Daily Candlestick Chart (XMRBTC as at Aug 11, 2018):
Saturday's trading range was BTC0.00048 (3.22%), that's below last trading month's daily average range of BTC0.00076. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly below average.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
With seven out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are XRPUSD losing -8.28% and ETCUSD closing -7.72% lower. None of the markets managed to end the day in the green. Looking at the other Minor Cryptocurrencies, the winners of the day have been BTCCNY surging 5.28% and WAVESBTC closing 1.9% higher. The worst performers of the day have been ELFBTC tanking -13.38% and IOTBTC closing -11.22% lower. Read more