Evening Market Report August 24
BTC currently fluctuates at a high level, need to pay attention to 50000 whether there is another breakthrough.
According to data from Huobi Global, BTC rushed up and down, up to 49846.25USDT, from the 4h line BTC has not long sustained breakthrough blocking level, the follow-up concern whether there is another breakthrough, if not breakthrough, or will continue to shock adjustment market, the uptrend will come to an end. At present, BTC shrinkage slow. Overall, 48700 above a line range support is still strong. k line is located between the Bollinger band middle rail and upper rail, stand stable Bollinger band middle rail, relative to the previous two days of piercing the upper rail breakthrough, today’s k line belongs to the normal trend, short-term or continue to move up. Bollinger Road opening gradually narrowed, the volume fell slightly.
DIF intraday penetration DEA, short-side energy column enhanced after slightly shortened, if further shortened, the adjustment may end, the market continues to move up. Daily level, the current BTC is a short positive, need to pay attention to the follow-up can break through again.
According to data from Huobi Global,ETH fluctuates at a high level in the day. The current upward trend of not breaking $3,000 will not be disrupted. The pressure on the top line of 3400 is relatively high. Recently, we will pay attention to whether it can break through 3400. Looking at the four-hour level, the k-line has repeatedly touched the pressure near 3400, and the unilateral market is basically coming to an end. Trading volume declined slightly, and the momentum of vacancies was strengthened compared with yesterday, and the trend gradually slowed down. It is in the stage of long-short game, and the market may fluctuate in a short period of time. In terms of daily level, ETH is currently a short-term positive line, and the trend is similar to that of BTC, so we need to pay attention to the follow-up breakthrough situation.
In terms of contracts, the data of Huobi Futures showed that the open interest of BTC futures increased slightly, the volume decreased significantly, and the contract market was relatively inactive. The basis of futures contracts remained stable.
The open interest of ETH futures contracts increased slightly, the volume remained stable, and the contract market was relatively inactive. The basis of futures contracts remained stable.
According to data from Huobi Study Club, DeFi TVL increased significantly and valued at $114.72 billion, the true locked value increased slightly and valued at $84.87 billion. Among them, the top programs have not changed much. Today’s total DeFi trading volume decreased slightly and it is $4.53 billion.
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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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