XMRUSD ends the day on a bearish note closing near the low of the day


XMR/USD Index (XMRUSD) Technical Analysis Report for Aug 11, 2018 [< 1 min read]
Highlights
XMRUSD closes lower for the 2nd day in a row
XMRUSD ends the day on a bearish note closing near the low of the day
XMRUSD breaks below previous session low
XMRUSD falls to lowest close since November 5, 2017
TQ Sentiment
Report Sentiment: 60% Bearish
Technical Forecast:
Overview

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 chart for XMRUSD
Volatility

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.

Support/Resistance

Prices are trading close to the key resistance level at 92.91.

Trend

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

Conclusion

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

Market Conditions for XMR/USD Index
Condition Forecast Direction Win Avg Worst Best Events
White Candle TQ Pro Members Only
Close to S1 Support TQ Pro Members Only
Price broke through Technical Resistance R1 TQ Pro Members Only
Close to Swing High TQ Pro Members Only
Closed above last periods high TQ Pro Members Only
More market conditions identified for TQ Pro members...
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