Market Analysis of July 30, 2020

The marketcap has been moving up (+1.22%) since yesterday. The total capitalization is 323 405 881 561 USD.

Bitcoin totals 202 248 329 733 USD of capitalization for a dominance of 62.5%. Ethereum’s marketcap is 35 665 528 898  USD, followed by Tether with 11 005 109 812 USD.

Bitcoin Analysis

The BTC closed higher and is now trading lower at around $10,985, below $11,000.

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

What to do about it?

We can expect a small correction, this is normal after such a bullish movement. That’s why we will wait for a better entry point to raise a long one.

  • The supports of the day are at 10450$ — 9800$
  • The resistances of the day are at 11000$ — 11600$

Ethereum Analysis

ETH closed higher in doji indicating market indecision and is trading around $318. It is normal that after such a pump, the market stabilizes a little.

The daily technical situation is still rather positive despite a WaveTrends which crosses downwards, but negative in 4 hours.

What to do?

Expect a small correction as for the BTC.

  • The supports of the day are at 314$ — 280$
  • The resistances of the day are at 346$ — 366$

Conclusion

The daily technical situation is positive for ETH and BTC but we can expect a small correction !

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