Market Analysis of March 18, 2020

The marketcap has been moving down (-1.46%) since yesterday. The total capitalization is 147 418 880 516 USD.

Bitcoin totals 93,586,482,654 USD of capitalization for a dominance of 63.50%. Ethereum’s marketcap is 12 391 041 633 USD, followed by Ripple with 6 281 472 420 USD.

Bitcoin Analysis

Bitcoin closed higher, trading around $5124. The BTC is struggling to break above $5600.

The daily technical situation is rather negative but with signs of bullish recovery.

What to do about it?

If the BTC stays at this level, the scenario will be bearish.

Ethereum Analysis

ETH closed higher in inverted hammer form and is trading around $112.

The daily technical situation is negative, and remains rather negative under a time horizon of 4 hours.

What can we do about it?

The situation is still uncertain, the cautious trader will stay away from ETH for now.

Conclusion

The daily technical situation is negative for ETH and BTC.

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