Crypto Market Summary for Nov 21, 2019


Major Cryptocurrencies Technical Analysis Market Overview Report for Nov 21, 2019 | by Techniquant Editorial Team

Highlights

EOSUSD breaks below Wednesday's low
ETHUSD dominated by bears dragging the market lower throughout the day
BCHUSD declines to lowest close since October 24th
LTCUSD breaks below key technical support level
BTCUSD closes lower for the 4th day in a row
ETCUSD runs into sellers again around 4.42
XRPUSD unable to break through key resistance level

Summary

With seven out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are EOSUSD losing -8.74% and ETHUSD closing -8.11% lower. None of the markets managed to end the day in the green.

One of today's most interesting market conditions in the Major Cryptocurrencies showed up in LTCUSD: Among the nine market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close crossed below the lower Bollinger Band" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for LTC/USD. Out of 53 times, LTCUSD closed higher 67.92% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after two trading days, showing a win rate of 58.49% with an average market move of 5.55%. Read more

Looking at the Minor Cryptocurrencies, the winners of the day have been XRPBTC surging 3.14% and ETCBTC closing 2.24% higher. The worst performers of the day have been ETHCNY tanking -11.28% and LTCCNY closing -11.12% lower.

Major Cryptocurrencies Overviews

EOSUSD 2.82 -0.27 (-8.74%) Moving lower for the 4th day in a row, EOSUSD finished Thursday at 2.82 tanking $0.27 (-8.74%) on high volume. This is the biggest single-day loss in over a month. The last time we've seen such an unusually strong single-day loss on Monday, EOSUSD lost -1.88% on the following trading day. Today's close at 2.82 marks the lowest recorded closing price since October 24th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Wednesday's low at 3.06, EOS/USD confirmed its breakout through the previous session low after trading up to $0.32 below it intraday. Read more
ETHUSD 160.95 -14.20 (-8.11%) Moving lower for the 4th day in a row, ETHUSD ended Thursday at 160.95 tanking $14.20 (-8.11%) on high volume. This is the biggest single-day loss in over a month. Today's close at 160.95 marks the lowest recorded closing price since October 23rd. The bears were in full control today, moving the market lower throughout the whole session. Closing below Wednesday's low at 173.63, Ether confirmed its breakout through the prior session low after trading up to $17.16 below it intraday. Read more
BCHUSD 224.59 -17.50 (-7.23%) Moving lower for the 4th day in a row, BCHUSD ended Thursday at 224.59 tanking $17.50 (-7.23%) on high volume. Today's close at 224.59 marks the lowest recorded closing price since October 24th. The bears were in full control today, moving the market lower throughout the whole session. Closing below Wednesday's low at 238.27, Bitcoin Cash confirmed its breakout through the prior session low after trading up to $17.81 below it intraday. Read more
LTCUSD 50.67 -4.32 (-7.86%) Moving lower for the 4th day in a row, LTCUSD ended Thursday at 50.67 tanking $4.32 (-7.86%) on high volume. This is the biggest single-day loss in over a month. Today's close at 50.67 marks the lowest recorded closing price since October 24th. Closing below Wednesday's low at 54.66, the market confirmed its breakout through the previous session low after trading up to $6.28 below it intraday. Read more
BTCUSD 7,631.54 -467.68 (-5.77%) Moving lower for the 4th day in a row, BTCUSD ended Thursday at 7631.54 tanking $467.68 (-5.77%) on high volume. This is the biggest single-day loss in over four weeks. Today's close at 7631.54 marks the lowest recorded closing price since October 24th. Closing below Wednesday's low at 8047.73, Bitcoin confirmed its breakout through the previous session low after trading up to $610.40 below it intraday. Read more
ETCUSD 4.18 -0.17 (-3.91%) Moving lower for the 5th day in a row, ETCUSD finished Thursday at 4.18 tanking $0.17 (-3.91%). Today's close at 4.18 marks the lowest recorded closing price since February 16th. Closing below Wednesday's low at 4.31, ETC/USD confirmed its breakout through the previous session low after trading up to $0.25 below it intraday. Read more
XRPUSD 0.2436 -0.0066 (-2.64%) Moving lower for the 2nd day in a row, XRPUSD finished Thursday at 0.2436 losing $0.0066 (-2.64%). Today's close at 0.2436 marks the lowest recorded closing price since September 29th. Closing below Wednesday's low at 0.2483, Ripple confirmed its breakout through the prior session low after trading up to $0.0129 below it intraday. Read more

Detailed Reports

Daily technical analysis candlestick chart for Bitcoin/Chinese Yuan Index (BTCCNY) as at Aug 05, 2020
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Daily technical analysis candlestick chart for Stratis/Bitcoin Index (STRATBTC) as at Aug 05, 2020
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Daily technical analysis candlestick chart for Ethereum/Japanese Yen Index (ETHJPY) as at Aug 05, 2020
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Daily technical analysis candlestick chart for Ethereum/Chinese Yuan Index (ETHCNY) as at Aug 05, 2020
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