Crypto Market Summary for Oct 17, 2020


Major Cryptocurrencies Technical Analysis Market Overview Report for Oct 17, 2020 | by Techniquant Editorial Team

Highlights

EOSUSD enters Death Cross for the first time since August 21st
BTCUSD closes within previous day's range after lackluster session
ETCUSD runs into sellers again around 5.65
LTCUSD closes lower for the 5th day in a row
BCHUSD breaks back below 200-day moving average
ETHUSD pushes through key technical resistance level
XRPUSD finds buyers again around 0.2389

Summary

With four out of the seven Major Cryptocurrencies closing higher today, the ones that stand out on the positive side are ETHUSD gaining 0.81% and BTCUSD closing 0.37% higher. On the flipside the worst performers have been BCHUSD closing -2.05% lower and LTCUSD losing -1.43%.

One of today's most interesting market conditions in the Major Cryptocurrencies showed up in LTCUSD: Among the seven market conditions that our pattern recognition engine identified today, the statistics for the Support/Resistance based market condition "Bearish Break through SMA 200" stand out. While it is usually interpreted as bearish, it has actually shown to be bullish for LTC/USD. Out of 41 times, LTCUSD closed higher 65.85% 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 60.98% with an average market move of 0.68%. Read more

Looking at the Minor Cryptocurrencies, the winners of the day have been WAVESUSD surging 8.14% and WAVESBTC closing 7.59% higher. The worst performers of the day have been BCNUSD tanking -10.94% and BCHBTC closing -2.26% lower.

Major Cryptocurrencies Overviews

EOSUSD 2.53 -0.01 (-0.39%) Moving lower for the 6th day in a row, EOSUSD finished Saturday at 2.53 losing $0.01 (-0.39%). 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
BTCUSD 11,367.65 41.40 (0.37%) BTCUSD ended Saturday at 11367.65 edging higher $41.40 (0.37%) on low volume. Trading up to $55.56 lower after the open, the cryptocurrency managed to reverse during the session as bulls took control ending the day above its opening price. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Read more
ETCUSD 5.58 0.02 (0.36%) ETCUSD ended Saturday at 5.58 gaining $0.02 (0.36%) 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
LTCUSD 46.94 -0.68 (-1.43%) Moving lower for the 5th day in a row, LTCUSD finished Saturday at 46.94 losing $0.68 (-1.43%) 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 245.21 -5.12 (-2.05%) Moving lower for the 2nd day in a row, BCHUSD ended Saturday at 245.21 losing $5.12 (-2.05%). Closing within the previous day's range, prices missed to decisively move beyond the prior day's trading range. Read more
ETHUSD 368.53 2.95 (0.81%) ETHUSD finished Saturday at 368.53 gaining $2.95 (0.81%) 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
XRPUSD 0.2407 0.0005 (0.21%) XRPUSD ended Saturday at 0.2407 gaining $0.0005 (0.21%) on low volume. Closing within the prior day's range, prices failed to decisively move beyond the previous day's trading range in a lackluster session. Read more

Detailed Reports

Daily technical analysis candlestick chart for Bitcoin Gold/US Dollar Index (BTGUSD) as at Nov 29, 2020
Nov 29, 2020
Daily technical analysis candlestick chart for Bitcoin Cash/Bitcoin Index (BCHBTC) as at Nov 29, 2020
Nov 29, 2020
Daily technical analysis candlestick chart for Litecoin/Japanese Yen Index (LTCJPY) as at Nov 29, 2020
Nov 29, 2020
Daily technical analysis candlestick chart for Bitcoin/Chinese Yuan Index (BTCCNY) as at Nov 29, 2020
Nov 29, 2020
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