Market Analysis of May 13, 2020

The marketcap has been moving up (1.39%) since yesterday. The total capitalization is 243 193 462 938 USD.

Bitcoin totals 163 461 568 909 USD of capitalization for a dominance of 67.20%. Ethereum’s marketcap is 21 065 403 135 USD, followed by Ripple with 8 709 758 857 USD.

Bitcoin Analysis

Bitcoin closed higher and is trading around $8925, its dominance remains high.

The daily technical situation is negative but becomes positive in 4 hours.

What to do about it?

The situation of the BTC is rather uncertain, it would be more prudent to wait for a return to around $8500 to launch a long.

  • The supports of the day are at 8500$ — 8000$
  • The resistances of the day are at 9000$ — 9500$

Ethereum Analysis

ETH closed higher and is trading around $190.

The daily technical situation is negative but becomes positive in 4 hours.

What to do?

ETH remains below its $192 resistance which seems to be holding up well and is consolidating. The situation is too uncertain for the moment, it is better to stay away.

  • The supports of the day are at 185$ — 177$
  • The resistances of the day are at 192$ — 197$

Conclusion

The daily technical situation is negative for ETH and BTC but positive in 4h.

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