Market Analysis of April 28, 2020

The marketcap has been moving up (+0.44%) since yesterday. The total capitalization is 222 790 007 786 USD.

Bitcoin totals 142 397 079 727 USD of capitalization for a dominance of 63.90%. Ethereum’s marketcap is 21 731 563 242 USD, followed by Ripple with 8 751 394 516 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed higher and is trading around $7708.

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

What to do about it?

The BTC is just below its $7,800 resistance level, which is not a good place to start a trade. We must therefore be patient and wait for a better entry point.

  • The supports of the day are at 7500$ — 7300$
  • The resistances of the day are at 7800$ — 8200$

Ethereum Analysis

ETH closed lower in the form of a hammer and is currently trading around $195.6.

The daily technical situation is positive with signs of bearish curves and turns negative in 4 hours.

What to do?

ETH is just below its $193 support, which is not a good entry either. Be patient and wait for a return to support or resistance.

  • The supports of the day are at 193$ — 185$
  • The resistances of the day are at 200$ — 209$

Conclusion

The daily technical situation is positive for ETH and BTC but negative on a shorter horizon.

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