Crypto Market Summary for Feb 10, 2019

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

Highlights

LTCUSD finds buyers again around 42.12

EOSUSD closes above its opening price after recovering from early selling pressure

ETHUSD closes higher for the 3rd day in a row

BTCUSD pops to highest close since January 19th

BCHUSD finds buyers at key support level

ETCUSD runs into sellers again around 4.21

XRPUSD closes within prior day's range

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 BCHUSD: Among the five market conditions that our pattern recognition engine identified today, the statistics for the OHLC Patterns based market condition "Close to Swing High" stand out. Although it is usually interpreted as neutral, it has actually shown to be bearish for BCH/USD. Out of 183 times, BCHUSD closed lower 57.92% 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 two trading days, showing a win rate of 61.20% with an average market move of -1.02%. 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

LTCUSD

LTCUSD 46.93 2.63 (5.94%) Moving higher for the 4th day in a row, LTCUSD finished Sunday at 46.93 gaining $2.63 (5.94%) on high volume. Today's close at 46.93 marks the highest recorded closing price since November 13, 2018. Trading up to $2.49 lower after the open, the cryptocurrency managed to reverse during the session as bulls took control ending the day above its opening price. Closing above Saturday's high at 46.00, LTC confirmed its breakout through the previous session high after trading up to $1.42 above it intraday. Read more

EOSUSD

EOSUSD 2.84 0.03 (1.07%) Moving higher for the 3rd day in a row, EOSUSD ended Sunday at 2.84 gaining $0.03 (1.07%). Today's close at 2.84 marks the highest recorded closing price since January 9th. Trading up to $0.12 lower after the open, EOS 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 failed to decisively move beyond the prior day's trading range. Read more

ETHUSD

ETHUSD 125.63 6.18 (5.17%) Moving higher for the 3rd day in a row, ETHUSD finished Sunday at 125.63 surging $6.18 (5.17%). Today's close at 125.63 marks the highest recorded closing price since January 14th. Closing above Saturday's high at 121.58, the market confirmed its breakout through the previous session high after trading up to $4.81 above it intraday. Read more

BTCUSD

BTCUSD 3,683.47 36.19 (0.99%) Moving higher for the 3rd day in a row, BTCUSD ended Sunday at 3683.47 gaining $36.19 (0.99%). Today's close at 3683.47 marks the highest recorded closing price since January 19th. Trading up to $40.80 lower after the open, the market managed to reverse during the session as bulls took control ending the day above its opening price. The last time this happened on February 5th, BTCUSD actually lost -1.66% on the following trading day. Closing above Saturday's high at 3673.71, BTC confirmed its breakout through the prior session high after trading up to $15.61 above it intraday. Read more

BCHUSD

BCHUSD 126.85 -0.52 (-0.41%) Moving lower for the 2nd day in a row, BCHUSD ended Sunday at 126.85 losing $0.52 (-0.41%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Read more

ETCUSD

ETCUSD 4.21 0.10 (2.43%) ETCUSD ended Sunday at 4.21 gaining $0.10 (2.43%). Trading up to $0.15 lower after the open, ETC/USD managed to reverse during the session as bulls took control ending the day above its opening price. The last time this happened on Thursday, ETCUSD gained 7.24% on the following trading day. Ending with a strong close near the high of the day sets a bullish note for the next session. Read more

XRPUSD

XRPUSD 0.3107 -0.0016 (-0.51%) XRPUSD ended Sunday at 0.3107 losing $0.0016 (-0.51%). Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more