Crypto Market Summary for Jul 03, 2020
Major Cryptocurrencies Technical Analysis Market Overview Report for Jul 03, 2020 | by Techniquant Editorial Team
With five out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are EOSUSD gaining 2.54% and XRPUSD closing 0.86% higher. On the flipside the worst performers have been ETHUSD closing -0.59% lower and BTCUSD losing -0.29%.
One of today's most interesting market conditions in the Major Cryptocurrencies showed up in ETHUSD: Among the nine market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bearish Break through SMA 50" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for ETH/USD. Out of 44 times, ETHUSD closed higher 54.55% 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 three trading days, showing a win rate of 59.09% with an average market move of 0.14%. Read more
Looking at the Minor Cryptocurrencies, the winners of the day have been VETBTC surging 7.62% and ICXBTC closing 6.57% higher. The worst performers of the day have been BTGUSD tanking -8.19% and BTGBTC closing -5.0% lower.