Huobi Research
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Huobi Research

Evening Market Report(Mar.21)

BTC price turns upward during daytime, with strong support below.

According to the data of Huobi Global, after one day’s drop yesterday, BTC reached as low as around 40,500 this morning, and then turned upward, and is now at around 41,300. The support below is strong, and long side potential is still relatively strong. From the 4-hour K-line, three EMA lines run horizontally, and the trading volume keeps stable at a low level. The price changes in recent days are not large, and the price direction is not obvious. From the daily level, BTC is still in the stage of sideways adjustment, and no breakthrough has been formed in last increase stage. Pay attention to the 42800 pressure level above.

According to the data of Huobi Global, the price of ETH during daytime has turned upward, which is in line with the trend of BTC. It has now rebounded to around 2900, and the transaction volume is at a normal level. Judging from the 4-hour K-line, this round of ETH price reduction is not large and the duration is short. At present, long side is temporarily dominant, and the price may increase further. From the daily level, the price of ETH in the last round has risen to 3010, which has not really formed a breakthrough. We will focus on whether the price can break through the 3050 pressure level in the follow-up.

In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures increased. The volume kept stable, and the contract market was relatively inactive. The basis of futures contracts remained stable.
The open interest of ETH futures contracts remained stable. The volume kept stable, and the contract market was relatively inactive. The basis of futures contracts remained stable.

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Huobi Blockchain Application Research Institute (referred to as “Huobi Research Institute”) was established in April 2016. Since March 2018, it has been committed to comprehensively expanding the research and exploration of various fields of blockchain. As the research object, the research goal is to accelerate the research and development of blockchain technology, promote the application of blockchain industry, and promote the ecological optimization of the blockchain industry. The main research content includes industry trends, technology paths, application innovations in the blockchain field, model exploration, etc. Based on the principles of public welfare, rigor and innovation, Huobi Research Institute will carry out extensive and in-depth cooperation with governments, enterprises, universities and other institutions through various forms to build a research platform covering the complete industrial chain of the blockchain. Industry professionals provide a solid theoretical basis and trend judgments to promote the healthy and sustainable development of the entire blockchain industry.

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Huobi Research

Huobi Research

Blockchain industry top think tank, affiliated to Huobi Group.