Crypto Market Summary for Aug 01, 2020


Major Cryptocurrencies Technical Analysis Market Overview Report for Aug 01, 2020 | by Techniquant Editorial Team

Highlights

ETCUSD finds buyers again around 7.32
XRPUSD closes higher for the 8th day in a row
LTCUSD finds buyers at key support level
ETHUSD dominated by bulls lifting the market higher throughout the day
EOSUSD surges, gaining $0.21 (6.77%) within a single day on high volume
BTCUSD pops to highest close since August 9, 2019
BCHUSD pushes through Friday's high

Summary

With seven out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are XRPUSD gaining 12.04% and ETHUSD closing 11.71% higher. None of the markets ended the day in the red.

One of today's most interesting market conditions in the Major Cryptocurrencies showed up in XRPUSD: Among the nine market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "Up Close near high of period" stand out. Although it is usually interpreted as bullish, it has actually shown to be bearish for XRP/USD. Out of 339 times, XRPUSD closed lower 61.06% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the short side has been after three trading days, showing a win rate of 65.19% with an average market move of -1.05%. Read more

Looking at the Minor Cryptocurrencies, the winners of the day have been ZECUSD surging 19.59% and DOGEUSD closing 15.6% higher. The worst performers of the day have been STRATBTC tanking -4.08% and ARDRBTC closing -4.0% lower.

Major Cryptocurrencies Overviews

ETCUSD 7.84 0.43 (5.80%) Moving higher for the 6th day in a row, ETCUSD ended Saturday at 7.84 surging $0.43 (5.8%) on high volume. Today's close at 7.84 marks the highest recorded closing price since March 7th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 7.59, ETC/USD confirmed its breakout through the previous session high after trading up to $0.37 above it intraday. Read more
XRPUSD 0.2912 0.0313 (12.04%) Moving higher for the 8th day in a row, XRPUSD finished Saturday at 0.2912 surging $0.0313 (12.04%) on high volume. This is the biggest single-day gain in over a year. Today's close at 0.2912 marks the highest recorded closing price since February 18th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 0.2607, the market confirmed its breakout through the previous session high after trading up to $0.0373 above it intraday. Read more
LTCUSD 61.71 3.49 (5.99%) Moving higher for the 3rd day in a row, LTCUSD finished Saturday at 61.71 surging $3.49 (5.99%) on high volume. Today's close at 61.71 marks the highest recorded closing price since March 6th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 59.19, LTC confirmed its breakout through the previous session high after trading up to $3.11 above it intraday. Read more
ETHUSD 387.41 40.60 (11.71%) Moving higher for the 4th day in a row, ETHUSD finished Saturday at 387.41 surging $40.60 (11.71%) on high volume. This is the biggest single-day gain in over two years. Today's close at 387.41 marks the highest recorded closing price since August 6, 2018. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 349.48, Ether confirmed its breakout through the prior session high after trading up to $43.61 above it intraday. Read more
EOSUSD 3.31 0.21 (6.77%) Moving higher for the 6th day in a row, EOSUSD ended Saturday at 3.31 surging $0.21 (6.77%) on high volume. This is the biggest single-day gain in over three weeks. The last time we've seen such an unusually strong single-day gain on Tuesday, EOSUSD gained 1.00% on the following trading day. Today's close at 3.31 marks the highest recorded closing price since March 7th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 3.15, the market confirmed its breakout through the previous session high after trading up to $0.18 above it intraday. Read more
BTCUSD 11,812.42 459.70 (4.05%) Moving higher for the 4th day in a row, BTCUSD finished Saturday at 11812.42 surging $459.70 (4.05%). Today's close at 11812.42 marks the highest recorded closing price since August 9, 2019. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 11454.11, the cryptocurrency confirmed its breakout through the previous session high after trading up to $420.66 above it intraday. Read more
BCHUSD 319.96 18.76 (6.23%) Moving higher for the 3rd day in a row, BCHUSD ended Saturday at 319.96 surging $18.76 (6.23%) on high volume. Today's close at 319.96 marks the highest recorded closing price since March 7th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 306.43, the cryptocurrency confirmed its breakout through the prior session high after trading up to $15.10 above it intraday. Read more

Detailed Reports

Daily technical analysis candlestick chart for KCS/Bitcoin Index (KCSBTC) as at Sep 26, 2020
Sep 26, 2020
Daily technical analysis candlestick chart for Litecoin/British Pound Index (LTCGBP) as at Sep 26, 2020
Sep 26, 2020
Daily technical analysis candlestick chart for Ethereum/British Pound Index (ETHGBP) as at Sep 26, 2020
Sep 26, 2020
Daily technical analysis candlestick chart for Litecoin/Euro Index (LTCEUR) as at Sep 26, 2020
Sep 26, 2020
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