Evening Market Report August 2
BTC fluctuated sideways during the day and fell slightly in the evening.
According to data from the Huobi Global, BTC fluctuated sideways at 39,800 for the day. After a slight increase in the afternoon, it encountered short resistance near 40,300 and then pulled back. In four-hour level of picture, the K line continues to stay below EMA 5, EMA 10, and EMA 20 during the day. EMA 10 shows signs of crossing EMA 20 to form a death cross and the two tend to overlap at present. The three EMAs show a slight downward trend. The K line continues to be located between the middle track and the lower track of the Bollinger Band, and the opening of the Bollinger Band continues to level off. DIF is continuously below DEA, and both are positive. The trading volume is relatively sluggish, and the market may decline for a short time. In day level of picture, BTC ushered in the second consecutive negative. In the evening, continue to pay attention to the continuation of the downward trend and the breakthrough of 40,500 above and the support of 39,000 below.
According to data from the Huobi Global, ETH rose slightly during the day, then encountered resistance at 2620, and is currently trading sideways around 2570. In four-hour level of picture, the K line continuously crossed EMA 5 and EMA 10 upwards during the day, and continued to stay above EMA 20. The three EMAs showed a steady upward trend. The K line continues to be located between the middle track and the upper track of the Bollinger Band, and the opening of the Bollinger Band is slightly enlarged. DIF continues to be above DEA for the day, both are positive, and are currently tending to overlap. The trading volume is relatively sluggish. The market may rise slightly. In day level of picture, ETH ushered in six consecutive positives today, but the intraday gains were not large. In the evening, continue to pay attention to the continuation of the upward trend and the breakthrough of 2670 above and the support of 2520 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 decreased 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 $87.35 billion, the true locked value remained stable and valued at $65.30 billion. Among them, the top programs have not changed much. Today’s total DeFi trading volume remained stable and valued at $3.61 billion. Among them, Uniswap V3 rose significantly, reaching 13.49%.
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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.
Investing in digital assets carries risks and this article does not constitute operational advice.