Market Analysis of March 23, 2020

The marketcap has been moving down (-7.22%) since yesterday. The total capitalization is 106,381,271,566 USD.

Bitcoin totals 106,381,271,566 USD of capitalization for a dominance of 65.00%. Ethereum’s marketcap is 13 539 781 684 USD, followed by Ripple with 6,578,828,077 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed lower and is now trading around $5,820.

However, the daily technical situation is positive but negative over a 4-hour time horizon.

What to do about it?

Well we have to wait for a support or resistance test before going short or long.

  • The supports of the day are at 5650$ — 5000$
  • The resistances of the day are at 6200$ — 6650$

Ethereum Analysis

ETH closed lower, trading around $123.

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

What can we do about it?

ETH is above a support and will be interesting to watch today. Prepare your different scenarios.

  • The supports of the day are at 123$ — 100$
  • The resistances of the day are at 136$ — 153$

Conclusion

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

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