Market Analysis of July 31, 2020

The marketcap has been moving up (+1.8%) since yesterday. The total capitalization is 329 217 188 707 USD.

Bitcoin totals 205 062 165 180 USD of capitalization for a dominance of 62.3%. Ethereum’s marketcap is 37 733 983 375 USD, followed by XRP with 10 984 523 909 USD.

Bitcoin Analysis

The BTC closed higher and is trading around $11158. Trading volume is also increasing.

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

What to do about it?

The BTC still seems bullish but a correction is still possible as long as the 11600 level is not exceeded.

  • The supports of the day are at 11000$ — 10450$
  • The resistances of the day are at 11600$ — 13000$

Ethereum Analysis

ETH is on the rise again and is fluctuating around $339. The $346 area is being used as resistance. ETH seems to remain bullish.

The daily technical situation is rather positive despite a WaveTrends which has just crossed lower and remains positive in 4 hours.

What can we do about it?

Well if you have ETH it’s not the time to sell them, the situation remains bullish, especially if we pass the $346 resistance.

  • The supports of the day are at 314$ — 270$
  • The resistances of the day are at 346$ — 366$


The daily technical situation is still positive for ETH and BTC and the trend is bullish. 

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