Market Analysis of May 26, 2020

The marketcap has been moving up (+0.34%) since yesterday. The total capitalization is 248 994 149 370USD.

Bitcoin totals 163 249 728 444USD of capitalization for a dominance of 65.60%. Ethereum’s marketcap is 22 534 411 374 USD, followed by Ripple with 8 799 904 743 USD.

Market Sentiment

HOW TO READ THE MARKET SENTIMENT ?

Bitcoin Analysis

The BTC closed higher and is trading around $8850. The situation is not much different from yesterday.

Indeed the daily technical situation is still negative but becomes positive in 4 hours.

 

What to do about it?

It’s too late to go short but we can wait for a better entry point. For example a rest of the $9200 would be a good entry point for a short.

  • The supports of the day are at 8700$ — 8500$
  • The resistances of the day are at 9200$ — 9500$

Ethereum Analysis

ETH closed higher as well, trading around $202.

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

What can we do about it?

The scenario remains bearish for the moment for ETH.

  • The supports of the day are at 192$ — 185$
  • The resistances of the day are at 207$ — 217$

Conclusion

The daily technical situation is negative for ETH and BTC.

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