Market Analysis of March 24, 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.

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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