Crypto Market Summary for Jan 16, 2020


Major Cryptocurrencies Technical Analysis Market Overview Report for Jan 16, 2020 | by Techniquant Editorial Team

Highlights

EOSUSD closes higher for the 3rd day in a row
ETCUSD pushes through Wednesday's high
LTCUSD finds buyers again around 54.77
ETHUSD closes within previous day's range
BCHUSD finds buyers again around 310.04
BTCUSD finds buyers at key support level
XRPUSD closes lower for the 2nd day in a row

Summary

With five out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are BCHUSD losing -4.02% and LTCUSD closing -2.14% lower. On the flipside the best performers have been ETCUSD closing 3.49% higher and EOSUSD gaining 0.26%.

One of today's most interesting market conditions in the Major Cryptocurrencies showed up in XRPUSD: Among the three market conditions that our pattern recognition engine identified today, the statistics for the Technical Indicators based market condition "Close crossed below the upper Bollinger Band" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for XRP/USD. Out of 53 times, XRPUSD closed higher 62.26% 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 10 trading days, showing a win rate of 58.49% with an average market move of 21.55%. Read more

Looking at the Minor Cryptocurrencies, the winners of the day have been ARDRBTC surging 6.6% and ETCBTC closing 6.4% higher. The worst performers of the day have been BTGBTC tanking -12.28% and BTGUSD closing -8.69% lower.

Major Cryptocurrencies Overviews

EOSUSD 3.83 0.01 (0.26%) Moving higher for the 3rd day in a row, EOSUSD finished Thursday at 3.83 gaining $0.01 (0.26%). Today's close at 3.83 marks the highest recorded closing price since September 22, 2019. Trading up to $0.24 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 prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more
ETCUSD 8.30 0.28 (3.49%) Moving higher for the 3rd day in a row, ETCUSD finished Thursday at 8.30 gaining $0.28 (3.49%) on high volume. Today's close at 8.30 marks the highest recorded closing price since June 29, 2019. Trading up to $0.71 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 January 10th, ETCUSD gained 9.40% on the following trading day. Closing above Wednesday's high at 8.10, the cryptocurrency confirmed its breakout through the prior session high after trading up to $0.53 above it intraday. Read more
LTCUSD 57.67 -1.26 (-2.14%) LTCUSD ended Thursday at 57.67 losing $1.26 (-2.14%). Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more
ETHUSD 164.05 -1.67 (-1.01%) ETHUSD finished Thursday at 164.05 losing $1.67 (-1.01%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Read more
BCHUSD 328.19 -13.76 (-4.02%) Moving lower for the 2nd day in a row, BCHUSD finished Thursday at 328.19 losing $13.76 (-4.02%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Read more
BTCUSD 8,714.10 -117.84 (-1.33%) BTCUSD finished Thursday at 8714.10 losing $117.84 (-1.33%). Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more
XRPUSD 0.2287 -0.0048 (-2.06%) Moving lower for the 2nd day in a row, XRPUSD finished Thursday at 0.2287 losing $0.0048 (-2.06%). Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more

Detailed Reports

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Daily technical analysis candlestick chart for Tron/Bitcoin Index (TRXBTC) as at Apr 05, 2020
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Daily technical analysis candlestick chart for KCS/Bitcoin Index (KCSBTC) as at Apr 05, 2020
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Daily technical analysis candlestick chart for XEM/Bitcoin Index (XEMBTC) as at Apr 05, 2020
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