Market Analysis of April 21, 2020

The marketcap has been moving down (-4.5%) since yesterday. The total capitalization is 198 829 638 907 USD.

Bitcoin totals 126 421 034 760 USD of capitalization for a dominance of 63.6%. Ethereum’s marketcap 19 150 952 703  USD, followed by Ripple with 8 113 658 175 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

BTC closed lower and is trading around $6815 after testing $7,300.

The daily technical situation is negative with a WaveTrends which has just crossed lower and remains negative in 4 hours.

What to do about it?

A small recovery is possible but the trend seems bearish.

  • The supports of the day are at 6700$ — 6500$
  • The resistances of the day are at 7300$ — 7800$

Ethereum Analysis

ETH closed lower, trading around $169 after being pushed back from $189.

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

What to do?

If ETH doesn’t hold its current level, we can hope to see the $163 back.

  • The supports of the day are at 168$ — 163$
  • The resistances of the day are at 177$ — 185$

Conclusion

The daily technical situation is negative for ETH and BTC ad stays négative in a shorter horizon. 

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