Crypto Market Summary for Jul 07, 2020


Major Cryptocurrencies Technical Analysis Market Overview Report for Jul 07, 2020 | by Techniquant Editorial Team

Highlights

ETCUSD closes higher for the 2nd day in a row
BCHUSD breaks back below 100-day moving average
LTCUSD runs into sellers again around 44.44
EOSUSD closes within prior day's range
XRPUSD breaks below key technical support level
BTCUSD finds buyers at key support level
ETHUSD finds buyers at key support level

Summary

With six out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are EOSUSD losing -2.29% and XRPUSD closing -1.96% lower. On the flipside the best performer has been ETCUSD closing 1.8% higher.

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 Support/Resistance based market condition "Price broke through Technical Support S1" stand out. Though it is usually interpreted as bearish, it has actually shown to be bullish for XRP/USD. Out of 194 times, XRPUSD closed higher 57.22% 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 51.03% with an average market move of 5.27%. Read more

Looking at the Minor Cryptocurrencies, the winners of the day have been VETBTC surging 22.08% and DOGEUSD closing 18.57% higher. The worst performers of the day have been KCSBTC tanking -11.78% and BTGUSD closing -7.1% lower.

Major Cryptocurrencies Overviews

ETCUSD 6.22 0.11 (1.80%) Moving higher for the 2nd day in a row, ETCUSD finished Tuesday at 6.22 gaining $0.11 (1.8%) on high volume. Trading up to $0.13 lower after the open, ETC/USD managed to reverse during the session as bulls took control ending the day above its opening price. The last time this happened on June 17th, ETCUSD actually lost -1.11% on the following trading day. Closing above Monday's high at 6.18, the cryptocurrency confirmed its breakout through the prior session high after trading up to $0.14 above it intraday. Read more
BCHUSD 237.66 -4.73 (-1.95%) BCHUSD finished Tuesday at 237.66 losing $4.73 (-1.95%). Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more
LTCUSD 43.39 -0.68 (-1.54%) LTCUSD finished Tuesday at 43.39 losing $0.68 (-1.54%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Read more
EOSUSD 2.56 -0.06 (-2.29%) EOSUSD finished Tuesday at 2.56 losing $0.06 (-2.29%). Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more
XRPUSD 0.1852 -0.0037 (-1.96%) XRPUSD ended Tuesday at 0.1852 losing $0.0037 (-1.96%). Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range. Read more
BTCUSD 9,257.32 -89.73 (-0.96%) BTCUSD ended Tuesday at 9257.32 losing $89.73 (-0.96%). 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
ETHUSD 239.35 -2.41 (-1.00%) ETHUSD finished Tuesday at 239.35 losing $2.41 (-1.0%). Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range. Read more

Detailed Reports

Daily technical analysis candlestick chart for Aelf/Bitcoin Index (ELFBTC) as at Sep 20, 2020
Sep 20, 2020
Daily technical analysis candlestick chart for Cardano/Bitcoin Index (ADABTC) as at Sep 20, 2020
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Daily technical analysis candlestick chart for Ardor/Bitcoin Index (ARDRBTC) as at Sep 20, 2020
Sep 20, 2020
Daily technical analysis candlestick chart for Ripple/Bitcoin Index (XRPBTC) as at Sep 20, 2020
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