Market Analysis of June 02, 2020

The marketcap has been moving up (+5.54%) since yesterday. The total capitalization is 284 325 597 949 USD.

Bitcoin totals 186 052 841 585 USD of capitalization for a dominance of 65.40%. Ethereum’s marketcap is 27 673 003 593 USD, followed by Ripple with 9 371 610 201 USD.

Market Sentiment

Bitcoin Analysis

Bitcoin closed higher and is currently trading around $10,117, so the $10,000 level has been broken and the $10,500 level has been tested.

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

What to do about it?

We can’t throw a long blind, to confirm the bullish trend we have to wait to break the $10,500 level.

Ethereum Analysis

ETH has closed higher and is currently trading around $249.

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

What to do?

As for the BTC, it is too late to launch a long without risk. Now we must first see if the $253 resistance will hold.

Conclusion

The daily technical situation is positive for ETH and BTC.

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