Market Analysis of June 26, 2020

The marketcap has been moving down (-0.78%) since yesterday. The total capitalization is 261 407 581 401 USD.

Bitcoin totals 168 666 692 660 USD of capitalization for a dominance of 64.4%. Ethereum’s marketcap is 25 654 173 591 USD, followed by Tether with 9 196 876 532 USD.

Bitcoin Analysis

BTC closed down in the form of a hammer with its Weekly Open now serving as resistance. It is trading lower for the 4th day in a row and is around $9129.

The daily technical situation is negative and remains negative in 4h and also in 1h.

What to do about it?

The BTC is below a resistance, this is not the time to throw a long or a short, you have to wait for a better entry point. In case of retest of the 9250 zone, a short could be considered but it remains risky.

  • The supports of the day are at 9000$ — 8600$
  • The resistances of the day are at 9250$ — 9450$

Ethereum Analysis

ETH closed lower as well and is just above support, hovering around $229.

The daily technical situation is negative and remains negative in 4 hours and 1 hour.

What to do?

The situation is bearish, if the $228 support doesn’t hold we can expect to see the $217 back.

  • The supports of the day are at 228$ — 217$
  • The resistances of the day are at 253$ — 270$

Conclusion

The daily technical situation is negative for ETH and BTC and the volume is increasing. 

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