Market Analysis of May 18, 2020

The marketcap has been moving up since yesterday. The total capitalization is 264 548 592 882 USD.

Bitcoin totals 177 006 077 805 USD of capitalization for a dominance of 66.90%. Ethereum’s marketcap is 23 565 603 746 USD, followed by Ripple with 8 981 289 164 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed higher and is trading in a range between $10,000 and $9,000 currently around $9,587. Its dominance has fallen back below 67%.

The daily technical situation is rather positive and remains rather positive in 4 hours despite the WaveTrends which has just crossed lower.

What to do about it?

The resistance of the 10,000 has already been tested several times as well as the support of the $9,200. Be careful if you decide to trade from a test of these levels.

  • The supports of the day are at 9500$ — 9200$
  • The resistances of the day are at 10000$ — 10500$

Ethereum Analysis

ETH closed higher and is trading around $212.

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

What to do?

ETH is trading in the middle of the range and is therefore not advised to trade at this time.

  • The supports of the day are at 207$ — 192$
  • The resistances of the day are at 217$ — 227$

Conclusion

The daily technical situation is positive for ETH and BTC. 

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