Crypto Market Summary for Jan 22, 2020


Major Cryptocurrencies Technical Analysis Market Overview Report for Jan 22, 2020 | by Techniquant Editorial Team

Highlights

EOSUSD finds buyers again around 3.59
XRPUSD closes below its opening price unable to hold early session gains
LTCUSD stuck within tight trading range
BCHUSD runs into sellers around 353.88 for the third day in a row
ETCUSD dominated by bulls lifting the market higher throughout the day
ETHUSD closes within prior day's range after lackluster session
BTCUSD runs into sellers again around 8793.74

Summary

With four out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are ETHUSD losing -1.2% and BTCUSD closing -0.99% lower. On the flipside the best performers have been ETCUSD closing 4.59% higher and LTCUSD gaining 0.47%.

One of today's most interesting market conditions in the Major Cryptocurrencies showed up in BTCUSD: Among the two market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "High close to previous High" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for BTC/USD. Out of 1,126 times, BTCUSD closed higher 50.36% 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 55.68% with an average market move of 5.42%. Read more

Looking at the Minor Cryptocurrencies, the winners of the day have been XEMBTC surging 14.42% and XEMUSD closing 13.65% higher. The worst performers of the day have been XVGUSD tanking -5.09% and BTCCNY closing -4.77% lower.

Major Cryptocurrencies Overviews

EOSUSD 3.65 0.00 (0.00%) EOSUSD finished Wednesday at 3.65 flat. Trading $0.08 higher after the open, EOS/USD was unable to hold its gains as the bears took control ending the day below 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 0.2352 -0.0023 (-0.97%) XRPUSD ended Wednesday at 0.2352 losing $0.0023 (-0.97%). Trading $0.0026 higher after the open, XRP was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session. Read more
LTCUSD 57.79 0.27 (0.47%) Moving higher for the 2nd day in a row, LTCUSD ended Wednesday at 57.79 gaining $0.27 (0.47%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range in a lackluster session. Read more
BCHUSD 343.47 -0.05 (-0.01%) BCHUSD ended Wednesday at 343.47 losing $0.05 (-0.01%) on low volume. Trading $10.36 higher after the open, the cryptocurrency was unable to hold its gains as the bears took control ending the day below its opening price. 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
ETCUSD 9.35 0.41 (4.59%) Moving higher for the 3rd day in a row, ETCUSD ended Wednesday at 9.35 gaining $0.41 (4.59%). The bulls were in full control today, moving the market higher throughout the whole session. Closing above Tuesday's high at 9.12, ETC/USD confirmed its breakout through the prior session high after trading up to $0.37 above it intraday. Read more
ETHUSD 167.55 -2.03 (-1.20%) ETHUSD ended Wednesday at 167.55 losing $2.03 (-1.2%). 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 8,653.61 -86.11 (-0.99%) BTCUSD finished Wednesday at 8653.61 losing $86.11 (-0.99%) on low volume. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session. Read more

Detailed Reports

Daily technical analysis candlestick chart for NEO/US Dollar Index (NEOUSD) as at Apr 04, 2020
Apr 04, 2020
Daily technical analysis candlestick chart for Litecoin/Euro Index (LTCEUR) as at Apr 04, 2020
Apr 04, 2020
Daily technical analysis candlestick chart for Bitcoin/Chinese Yuan Index (BTCCNY) as at Apr 04, 2020
Apr 04, 2020
Daily technical analysis candlestick chart for Nano/Bitcoin Index (NANOBTC) as at Apr 04, 2020
Apr 04, 2020
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