Market Analysis of April 22, 2020

The marketcap has been moving up (+1.43%) since yesterday. The total capitalization is 201 678 216 911 USD.

Bitcoin totals 128 112 541 324 USD of capitalization for a dominance of 63.50%. Ethereum’s marketcap is 19 500 252 474 USD, followed by Ripple with 8 237 196 018 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed higher and is currently trading around $6938 after rebounding on the $6700 support.

The daily technical situation is rather negative, but becomes rather positive over a shorter time horizon.

What to do about it?

The technical situation and yesterday’s doji candlestick indicates market uncertainty. A small pump is still possible.

  • The supports of the day are at 6700$ — 6300$
  • The resistances of the day are at 7300$ — 7800$

Ethereum Analysis

ETH closed higher in doji form and is currently trading around $175.

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

What to do?

The situation is quite uncertain but the supports and resistances seem to be holding. You can therefore trade in a range, paying attention to your stop losses.

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

Conclusion

The daily technical situation is rather negative for ETH and BTC.

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