Market Analysis of April 29, 2020

The marketcap has been moving up (+2.64%) since yesterday. The total capitalization is 228 667 701 701 USD.

Bitcoin totals 145 826 299 464 USD of capitalization for a dominance of 63.80%. Ethereum’s marketcap is 22 717 369 977 USD, followed by Ripple with 9 478 027 094 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed lower but broke its $7,800 resistance to trade around $8,110.

The daily technical situation remained positive in 4h and 1h.

What to do about it?

If the $8,200 resistance is broken, we can hope for a test of the $8,500. 

  • The supports of the day are at 7800$ — 7500$
  • The resistances of the day are at 8200$ — 8500$

Ethereum Analysis

ETH closed lower but broke its $200 resistance to trade around $206.3.

The daily technical situation is positive and remains positive in 4h and 1h.

What to do?

ETH has broken a resistance and now we need to see the reaction to the $209. And place yourself in the event of a pullback.

  • The supports of the day are at 200$ — 193$
  • The resistances of the day are at 209$ — 217$

Conclusion

The daily technical situation is positive for ETH and BTC.

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