The marketcap has been moving down (-0.78%) since yesterday. The total capitalization is 176.300.733.112 USD.
Bitcoin totals 96.255.729.588 USD of capitalization for a dominance of 54.6% .
Ethereum's marketcap is 17.308.829.667 USD, followed by Ripple with 12.572.056.725 USD.
The Bitcoin is currently trading at around $5,415 and is still evolving in its ascending channel. After the decline recorded in the previous session, the daily technical situation is beginning to show signs of a downward movement. Indeed, the MACD, which seemed ready to cross upward, has finally reversed and the StochRSI is beginning to curve downward.
What is the current situation?
Over a 4-hour time horizon, however, the StochRSI seems ready to cross upward from its oversold zone, but the MACD remains bearish.
What to do about it?
If you are still in position despite the drop, we advise you to place your stop-loss under 5140$. If you are not yet in position, we recommend that you be patient. Indeed, support 1 could hold and this would then be a good buying opportunity. Otherwise, a decrease to the daily Tenkan ( ~ 5250$) is possible.
The supports of the day are located at 5360$ - 5250$
The resistances of the day are to 5650$ - 5800$
Like most of the market, ETH did not escape the decline that occurred yesterday. Ethereum tested the support of its consolidation triangle in the previous session and may test it again today.
Technically speaking, the daily horizon indicators show no sign of a future bullish reversal. On a 4-hour horizon, the situation is also negative, which makes it very likely that an oblique support test will be performed ( $160.8 - $161.5).
What to do about it?
If you still have ETH, place your stop-loss under holder 2. If you are not yet in position, we recommend waiting for the oblique support test to determine if a bounce is more likely than a break.
If ETH were to fall below support 2, a short position could then be opened.
The supports of the day are located at 161.5$ - 158.5$
The resistances of the day are to 168$ - 176.5$
BTC: Bitcoin has been rejected under its resistance and is currently testing its support at $5360. If you are still in position, we recommend that you place your stop-loss under the bullish channel (< $5140). If you are not yet in position, we recommend that you wait for a return to support 1 before reassessing the situation.
ETH : Ethereum is testing its oblique support. If you are already in position, place your stop-loss under the oblique support ($160.8 - $161.5). If you are not yet in position, we recommend waiting for the oblique support test to determine if a bounce is more likely than a break.
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