Market Analysis of April 24, 2020

The marketcap has been moving up (+5.75%) since yesterday. The total capitalization is 216 995 729 701 USD.

Bitcoin totals 138 708 912 014 USD of capitalization for a dominance of 63.90%. Ethereum’s marketcap is 20 947 970 743 USD, followed by Ripple with 8 629 953 302 USD.

Market Sentiment

Bitcoin Analysis

Bitcoin closed higher, trading around $7,570 after being pushed back from $7,800.

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

What to do about it?

A new test of the $7,800 is possible but if the $7,500 level doesn’t hold we could test the $7,300 support. Be prepared for these different scenarios and stay tuned.

Ethereum Analysis

ETH closed higher and is trading around $189.

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

What to do?

ETH tested the $193 resistance before being pushed back and stagnating at $189. A retest of the $193 is possible.

Conclusion

The daily technical situation is positive for ETH and BTC.

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