XMRUSD ends the day on a bearish note closing near the low of the day
XMR/US Dollar Index (XMRUSD) Technical Analysis Report for Aug 11, 2018
Moving lower for the 2nd day in a row, XMRUSD ended Saturday at 88.88 losing $2.51 (-2.75%). Today's closing price of 88.88 marks the lowest close since November 5, 2017. Closing below Friday's low at 90.09, the cryptocurrency confirms its breakout through the previous session's low having traded $1.84 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 (XMRUSD as at Aug 11, 2018):
Saturday's trading range was $4.41 (4.82%), that's far below last trading month's daily average range of $10.02. Things look different on a weekly scale, where volatility is above the markets average with the monthly volatility being slightly above average.
Prices are trading close to the key resistance level at 92.91.
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 ETHUSD closing -6.98% 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 IOTUSD closing -12.28% lower...read more