XMRBTC closes higher for the 3rd day in a row
XMR/Bitcoin Index (XMRBTC) Technical Analysis Report for Sep 15, 2018 | by Techniquant Editorial Team
Moving higher for the 3rd day in a row, XMRBTC finished Saturday at 0.01830 gaining BTC0.00055 (3.1%). Today's closing price of 0.01830 marks the highest close since September 4th. Closing above Friday's high at 0.01798, XMR/BTC confirms its breakout through the previous session's high having traded BTC0.00076 above it intraday.
Daily Candlestick Chart (XMRBTC as at Sep 15, 2018):
Saturday's trading range was BTC0.00083 (4.62%), that's below last trading month's daily average range of BTC0.00121. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly above average.
Unable to break through the key technical resistance level at 0.01838, the cryptocurrency closed below it after spiking as high as 0.01874 during the day. The failure to close above the resistance might increase that levels importance as resistance going forward.
Though still in a long-term downtrend, the short and medium-term trends both turned bullish already.
As prices are trading close to September's high at 0.01921, upside momentum could accelerate should the market mark new highs for the month.
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