Market Analysis of April 10, 2020

The marketcap has been moving down (-5.48%) since yesterday. The total capitalization is 198 066 113 627 USD.

Bitcoin totals 127 180 828 629 USD of capitalization for a dominance of 64.20%. Ethereum’s marketcap is 17 583 134 731 USD, followed by Ripple with 8 372 140 587 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

Bitcoin closed lower, trading around $6900.

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

What to do about it?

The BTC is encountering oblique support, there could be a small rebound but the scenario seems bearish today.

  • The supports of the day are at 6500$ — 6100$
  • The resistances of the day are at 7000$ — 7500$

Ethereum Analysis

ETH closed lower and is trading around $158.

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

What can we do about it?

The 154.7 support is holding up well, we can expect a small rebound.

  • The supports of the day are at 154.7$ — 146.4$
  • The resistances of the day are at 174$ — 177$

Conclusion

The daily technical situation is positive for ETH and BTC.

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