Market Analysis of April 08, 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

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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