Market Analysis of March 24th, 2020
The marketcap has been moving up (+15.12%) since yesterday. The total capitalization is 188 492 092 847 USD.
Bitcoin totals 124 054 731 883 USD of capitalization for a dominance of 65.80%. Ethereum’s marketcap is 15 552 841 886 USD, followed by Ripple with 7 133 981 109 USD.
Market Sentiment
Bitcoin Analysis
The BTC closed higher and is trading around $6700. Its dominance increases to 65.8%.
The daily technical situation is positive and remains positive in 4 hours.
What to do about it?
It would take a test and break of $7000 to hope for a return above $7400.
- The supports of the day are at 6650$ — 6200$
- The resistances of the day are at 7000$ — 7400$
Ethereum Analysis
ETH closed higher, trading around $140.9.
The daily technical situation is positive and remains positive in 4 hours.
What to do?
We would need a higher high and a test of the $153 resistance, if the resistance breaks, a long one can be launched.
- The supports of the day are at 136$ — 123$
- The resistances of the day are at 153$ — 170$
Conclusion
The daily technical situation is positive for ETH and BTC.
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