Crypto Market Summary for Jul 01, 2020
Major Cryptocurrencies Technical Analysis Market Overview Report for Jul 01, 2020 | by Techniquant Editorial Team
With six out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are ETHUSD gaining 2.42% and LTCUSD closing 1.48% higher. On the flipside the worst performer has been ETCUSD closing -0.17% lower.
One of today's most interesting market conditions in the Major Cryptocurrencies showed up in LTCUSD: Among the eight market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "High close to previous three Highs" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for LTC/USD. Out of 76 times, LTCUSD closed higher 60.53% 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 60.53% with an average market move of 23.29%. Read more
Looking at the Minor Cryptocurrencies, the winners of the day have been ADAUSD surging 16.61% and ADABTC closing 15.18% higher. The worst performers of the day have been STRATBTC tanking -6.12% and STRATUSD closing -4.55% lower.