Crypto Market Summary for Feb 10, 2019

Major Cryptocurrencies Technical Analysis Market Overview Report for Feb 10, 2019 | by Techniquant Editorial Team

Highlights

BCHUSD finds buyers at key support level

XRPUSD finds support at 100-day moving average

ETCUSD breaks below Thursday's low

LTCUSD closes lower for the 2nd day in a row

EOSUSD finds buyers again around 2.58

BTCUSD closes within previous day's range after lackluster session

ETHUSD closes lower for the 2nd day in a row

Summary

With five out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are LTCUSD gaining 5.94% and ETHUSD closing 5.17% higher. On the flipside the worst performers have been XRPUSD closing -0.51% lower and BCHUSD losing -0.41%.

One of today's most interesting market conditions in the Major Cryptocurrencies showed up in XRPUSD: Among the four market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bullish Bounce off SMA 100" stand out. Though it is usually interpreted as bullish, it has actually shown to be bearish for XRP/USD. Out of 60 times, XRPUSD closed lower 55.00% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after seven trading days, showing a win rate of 70.00% with an average market move of -2.20%. Read more

Looking at the Minor Cryptocurrencies, the winners of the day have been HSRBTC surging 9.24% and LTCGBP closing 6.51% higher. The worst performers of the day have been BCNUSD tanking -4.57% and TRXBTC closing -1.95% lower.

Major Cryptocurrencies Overviews

BCHUSD

BCHUSD 238.29 0.15 (0.06%) BCHUSD ended the week 7.01% higher at 238.29 after gaining $0.15 (0.06%) today. Trading up to $5.35 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session. Read more

XRPUSD

XRPUSD 0.1989 -0.0037 (-1.83%) Moving lower for the 2nd day in a row, XRPUSD finished the week 12.25% higher at 0.1989 after losing $0.0037 (-1.83%) today. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range. Read more

ETCUSD

ETCUSD 6.38 -0.27 (-4.06%) ETCUSD finished the week 12.52% higher at 6.38 after losing $0.27 (-4.06%) today. The bears were in full control today, moving the market lower throughout the whole session. Closing below Thursday's low at 6.41, the market confirmed its breakout through the previous session low after trading up to $0.15 below it intraday. Read more

LTCUSD

LTCUSD 44.29 -0.08 (-0.18%) Moving lower for the 2nd day in a row, LTCUSD finished the week 6.36% higher at 44.29 after edging lower $0.08 (-0.18%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Read more

EOSUSD

EOSUSD 2.62 -0.03 (-1.13%) Moving lower for the 2nd day in a row, EOSUSD ended the week 8.71% higher at 2.62 after losing $0.03 (-1.13%) today. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session. Read more

BTCUSD

BTCUSD 9,288.57 49.62 (0.54%) BTCUSD ended the week 2.28% higher at 9288.57 after gaining $49.62 (0.54%) today. Trading up to $110.24 lower after the open, the cryptocurrency managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session. Read more

ETHUSD

ETHUSD 241.21 -0.87 (-0.36%) Moving lower for the 2nd day in a row, ETHUSD finished the week 5.78% higher at 241.21 after losing $0.87 (-0.36%) today. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Read more