Crypto Market Summary for Aug 09, 2020


Major Cryptocurrencies Technical Analysis Market Overview Report for Aug 09, 2020 | by Techniquant Editorial Team

Highlights

ETCUSD closes below its opening price unable to hold early session gains
XRPUSD runs into sellers again around 0.2986
LTCUSD breaks below key technical support level
EOSUSD finds support at 200-day moving average
BTCUSD finds buyers again around 11533.93
BCHUSD finds buyers at key support level
ETHUSD closes within previous day's range after lackluster session

Summary

With seven out of the seven Major Cryptocurrencies closing lower today, the ones that stand out on the negative side are XRPUSD losing -2.47% and LTCUSD closing -2.47% 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 XRPUSD: Among the five 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 XRP/USD. Out of 198 times, XRPUSD closed higher 57.58% 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 52.02% with an average market move of 5.63%. Read more

Looking at the Minor Cryptocurrencies, the winners of the day have been ICXBTC surging 8.01% and WAVESBTC closing 7.75% higher. The worst performers of the day have been ZECUSD tanking -4.82% and ZECBTC closing -4.49% lower.

Major Cryptocurrencies Overviews

ETCUSD 6.89 -0.10 (-1.43%) Moving lower for the 4th day in a row, ETCUSD finished Sunday at 6.89 losing $0.10 (-1.43%). Trading $0.20 higher after the open, ETC/USD was unable to hold its gains as the bears took control ending the day below its opening price. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more
XRPUSD 0.2880 -0.0073 (-2.47%) XRPUSD finished Sunday at 0.2880 losing $0.0073 (-2.47%). Closing below Saturday's low at 0.2903, Ripple confirmed its breakout through the prior session low after trading up to $0.0078 below it intraday. Read more
LTCUSD 56.97 -1.44 (-2.47%) LTCUSD ended Sunday at 56.97 losing $1.44 (-2.47%) on low volume. Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range in a lackluster session. Read more
EOSUSD 3.03 -0.03 (-0.98%) EOSUSD finished Sunday at 3.03 losing $0.03 (-0.98%). Closing within the previous day's range, prices failed to decisively move beyond the prior day's trading range. Read more
BTCUSD 11,686.34 -84.43 (-0.72%) BTCUSD finished Sunday at 11686.34 losing $84.43 (-0.72%) on low volume. 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
BCHUSD 300.00 -4.89 (-1.60%) BCHUSD finished Sunday at 300.00 losing $4.89 (-1.6%). Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range. Read more
ETHUSD 390.28 -7.28 (-1.83%) ETHUSD finished Sunday at 390.28 losing $7.28 (-1.83%) on low volume. Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session. Read more

Detailed Reports

Daily technical analysis candlestick chart for Ethereum/Japanese Yen Index (ETHJPY) as at Oct 22, 2020
Oct 22, 2020
Daily technical analysis candlestick chart for Ethereum/British Pound Index (ETHGBP) as at Oct 22, 2020
Oct 22, 2020
Daily technical analysis candlestick chart for Ethereum/Euro Index (ETHEUR) as at Oct 22, 2020
Oct 22, 2020
Daily technical analysis candlestick chart for Dash/Bitcoin Index (DASHBTC) as at Oct 22, 2020
Oct 22, 2020
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