Evening Market Report July 30
BTC quickly dropped in the afternoon, pay attention to the support below
According to data from the Huobi Global, BTC traded sideways at 39,800 in the day, and dropped rapidly in the afternoon, and is currently as low as 38327.00USDT. In four-hour level of picture, the K line continuously crossed EMA 5, EMA 10, and EMA 20 downwards during the day. EMA 5 and EMA 10 tend to overlap and EMA 5 may cross EMA 10 to form the death cross soon. The three EMAs continue to flatten. The K line crossed the middle track of the Bollinger Band downwards for a short time in a day, and is currently located between the middle track and the lower track of the Bollinger Band. The opening of Bollinger Band narrowed slightly. DIF is continuously below DEA, and both are positive. The trading volume is relatively sluggish, and the market may continue to fall for a short time. In day level of picture, BTC fell slightly today, and basically reversed the gains in the first two days. In the evening, continue to pay attention to the continuation of the downtrend and the breakthrough of 40400 above and the support of 37600 below.
According to data from the Huobi Global, ETH encountered resistance at 2450 after a small rise in the morning, and traded sideways at 2420 during the day, and fell slightly in the afternoon, basically turning up the morning gain. In four-hour level of picture, the K line continuously crossed EMA 5 and EMA 10 downwards in the afternoon, and continued to stay above EMA 20 in the day, and the three EMAs tended to be flat. The K line crossed the upper track of Bollinger Band upwards for a short period of time within a day and then returned. It is currently approaching the Bollinger Band’s middle track, and the Bollinger Band opening has narrowed slightly. DIF continues to be below DEA for the day, both are positive, and currently tend to overlap. CCI crossed the 100 line downwards. The trading volume is relatively sluggish. The market may fall for a short time. In day level of picture, ETH ushered in three consecutive positives today, but the intraday gains were not large. In the evening, continue to pay attention to the continuation of the downtrend and the breakthrough of 2450 above and the support of 2290 below.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures remained stable. The volume decreased slightly, and the contract market was relatively inactive. The basis of futures contracts rose slightly.
The open interest of ETH futures contracts remained stable. The volume decreased slightly, and the contract market was relatively inactive. The basis of futures contracts rose slightly.
According to data from Huobi Study Club, today, DeFi TVL remained stable and valued at $84.05 billion, the true locked value remained stable and valued at $63.09 billion. Among them, the top programs have not changed much. Today’s total DeFi trading volume rose slightly and valued at $2.99 billion. Among them, PancakeSwap rose significantly, reaching 23.03%.
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Huobi Research was founded in April 2016 and started research and explorations in various aspects in Blockchain area since March 2018. We cover various fields such as Blockchain technology research, industry analysis, application innovation and economic model explorations. We aim to establish a research platform and to offer theoretical foundations as well as judgements of trends in Blockchain to the public, ultimately promoting the development of the Blockchain industry.
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Disclaimer
Investing in digital assets carries risks and this article does not constitute operational advice.
