Meanwhile, take into account that both ask and bid prices are located near clusters of respectively resistance and support.
Asking price chart
Bid price chart
Market Depth
Market Depth reveals, where traders have set up buy and sell orders. The up to date data is published at dukascoin.com. Below, one can observe the market orders on February 9.
In regards to sell orders, there is a zone full of ask orders. In the 1.9200/1.9700 zone there are orders to sell 1,411.5 coins. Meanwhile, noteworthy order amounts are located at 1.9000, 2.0000 and 2.0300.
On the other hand, there are two bid order zones with large amounts of orders. First zone is located at 1.4400/1.5600. In this zone there are orders to buy up 2,920.82 coins. In addition, there are orders for 2,468.8 coins in the 1.4000/1.3300 area.
© Dukascopy Bank SA
© Dukascopy Bank SA
Future outlook
In regards to the future, one needs to measure the ask orders versus the bid orders.
Currently, the pair's asking price is located to a cluster of orders for 1,411.5 coins. Meanwhile, the bid price is located next to orders for a total of 2,920.82 coins. There is a difference of more than 1,500.00 coins between the two clusters.
In addition, note that there are sparse amounts of orders above the 1.9700 mark. However, there is a whole large bid order zone below 1.4000.