Market Analysis of April 02, 2020

The marketcap has been moving down (+4.59%) since yesterday. The total capitalization is 186 564 981 372 USD.

Bitcoin totals 121 874 660 276 USD of capitalization for a dominance of 65.30%. Ethereum’s marketcap is 15 244 451 626 USD, followed by Ripple with 7 788 537 400 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed higher without testing the $6,900 resistance.

The daily technical situation is positive and remains positive in 4 hours.

What to do about it?

We can hope for a test of the $6500 and in case of a rebound, a long with a target of $6800-6900 can be launched.

  • The supports of the day are at 6500$ — 6300$
  • The resistances of the day are at 6900$ — 7400$

Ethereum Analysis

ETH closed higher as well, trading around $137.

The daily technical situation is positive and remains positive in 4 hours.

What can we do about it?

For the cautious trader, ETH is in full range and therefore it is necessary to wait for a support or resistance test before positioning.

  • The supports of the day are at 124.25$ — 116$
  • The resistances of the day are at 146.4$ — 154.7$

Conclusion

The daily technical situation is positive for ETH and BTC.

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