Crypto Market Summary for Jul 02, 2020
Major Cryptocurrencies Technical Analysis Market Overview Report for Jul 02, 2020 | by Techniquant Editorial Team
With seven out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are ETHUSD losing -1.97% and BCHUSD closing -1.83% 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 ETHUSD: Among the seven market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Price broke through Technical Support S1" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for ETH/USD. Out of 188 times, ETHUSD closed higher 59.04% 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 55.85% with an average market move of 3.98%. Read more
Looking at the Minor Cryptocurrencies, the winners of the day have been ICXBTC surging 8.02% and STRATUSD closing 7.14% higher. The worst performers of the day have been BTGBTC tanking -10.71% and BTGUSD closing -9.62% lower.