Market Analysis of April 8th, 2020
The marketcap has been moving down (-0.38%) since yesterday. The total capitalization is 208 092 363 114 USD.
Bitcoin totals 133 478 299 302 USD of capitalization for a dominance of 64.10%. Ethereum’s marketcap is 18 693 287 987 USD, followed by Ripple with 8 740 307 605 US
Market Sentiment
Bitcoin Analysis
Bitcoin closed lower, trading around $7300.
The daily technical situation is positive but rather negative in 4 hours.
What to do about it?
There’s no big change with yesterday’s situation, you have to be patient and attentive. The BTC is consolidating.
- The supports of the day are at 7000$ — 6500$
- The resistances of the day are at 7500$ — 7700$
Ethereum Analysis
ETH closed lower and is currently trading around $169.55.
The daily technical situation is still positive as well but with signs of a bearish curve in 4 hours.
What can be done?
ETH is consolidating as well. The prudent trader will wait for a support or resistance test.
- The supports of the day are at 154.7$ — 146.4$
- The resistances of the day are at 174$ — 177$
Conclusion
The daily technical situation is positive for ETH and BTC but with sign of bearish curve.
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