ZECUSD ends the day indecisive
ZCash/USD Index (ZECUSD) Technical Analysis Report for Sep 15, 2018
Moving higher for the 3rd day in a row, ZECUSD ended Saturday at 120.29 gaining $1.21 (1.02%). Today's closing price of 120.29 marks the highest close since September 8th. Closing within the previous day's range, prices failed to decisively move past the prior day's trading range. Ending the day with an indecisive close, neither buyers nor sellers were able to gain control during the session.
Saturday's trading range was $11.62 (9.79%), that's slightly above last trading month's daily average range of $11.18. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being slightly above average.
Breaking through the key resistance level at 119.78 today, it is now likely to act as support going forward.
The trend is clearly bearish, showing an intact downtrend in the short, medium and long-term.
While classical technical analysis indicates a neutral sentiment for the next trading day, our quantitative statistics show a different picture being bearish.
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