Meanwhile, the bid price remained in the 1.4000/1.5000 range during the first half of the month. On April 16, the price dropped to 1.3000 and afterwards has been highly volatile in the 1.3000/1.5000 zone.
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 May 4.
In regards to sell orders, the orders are concentrated at round levels at 1.6000, 1.6500, 1.7000 and 1.7500. At those levels there are orders to sell at least 100 coins.
The total amount of ask orders in the 20 cent range from 1.6000 up to 1.8000 amounts to 1,815.5 coins.
Meanwhile, bid orders are spread out from 1.2400 up to 1.4400. In this zone there are orders for 2,513.93 coins.
© Dukascopy Bank SA
© Dukascopy Bank SA
Future outlook
In regards to the future, compare the ask order amount to bid orders. There are ask orders for 1,815.5 coins versus bid orders for 2,513.93 coins. There are a lot more buyers than sellers. If the buyers decide to give in and move their bids higher, the rate would move upwards.
In addition, it can be spotted that since the finding of the bottom on April 16, the asking price has been trending upwards.