Meanwhile, notable clusters of sell and buy orders have moved away from the exchange rate.
Daily Candle Chart
On the daily candle chart, the rate has left far below it the support of the daily simple moving averages. The most close by was the 55-day SMA, which was strengthening the support of the major cluster of buy orders at 1.6500.
In the meantime, note that during the last week, the rate was finding support in the 1.7000, 1.7500 and 1.8000 level. In addition, the 1.8500 mark provided resistance to an attempted surge.
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 November 30.
There is only one notable level of sell orders to mention. There are orders to sell nearly 3,000 coins at the 2.0000 level. Up to this level, there is not a single level, where even 200 coins would be sold.
In the meantime, there is a notable buy order cluster at 1.7100. Near that level, more than 500 coins could be bought. Due to that reason, this level has been marked on the chart.
Moreover, there is a large cluster of buy orders ate 1.6500. At this level, there were orders to buy 2,945.00 coins.
© Dukascopy Bank SA
© Dukascopy Bank SA
Future outlook
Due to the lack of close by large clusters of buy and sell orders, the rate could go either way.
In the case of a surge, the pair would aim at the 2.0000 mark. On the other hand, if the price declines, it should reach for the 1.7100 level.
However, take into account that most likely there are traders, which have not set up pending trade orders. Instead, they buy or sell at the market at their specifically picked levels. It is indicated by the fact that the price has found support and resistance in round price levels.
Namely, someone watches the chart and places at the market orders at the moment, when a certain level is reached.