Evening Market Report August 26
BTC has pulled back sharply during the day, and short-term attention needs to be paid to whether the support at the 46200–45000 line is effective.
According to data from Huobi Global, BTC’s intraday market fluctuates greatly, falling more than 4%, and it forms a support at 46200–46500 in the short term. Whether this support is effective requires further observation. From the 4h line, the k-line crossed EMA5, EMA10, and EMA20, and the three moving averages descended steeply. It has now fallen below the support level of 47000 yesterday. It is necessary to pay attention to whether the short-term support level below 46200–46500 is valid.The K-line broke through the lower track of the Bollinger Band in the day, and the opening of the Bollinger Band has a downward expansion trend. The trading volume expanded within the day, DIF and DEA continued to diverge and descend, both of which were negative. The energy of the short side is relatively strong. The follow-up trend needs to be further wait and see. From the daily level, BTC is currently negative, when it has not yet fallen below the middle rail of the Bollinger band, if the rising pattern is further maintained, a new round of stretching or will open, if it falls below the middle rail of the Bollinger band, need to find whether there is strong support below, otherwise the downward channel or will open.
According to data from Huobi Global, ETH retraced sharply during the day, the trend is highly convergent with BTC, the lowest level to 3060.31USDT. 4 hours look, k line under the EMA5, EMA10, EMA20, three averages steep downward, k line near the lower rail of the Bollinger band running, has not fallen below the lower rail, the Bollinger band opening slightly expanded. There is no significant change in volume, and DIF and DEA continue to move downward. From a daily perspective, ETH is currently in the negative, k-line below the middle rail of the Bollinger band, the long side is blocked. Short-term continue to pay attention to whether the support below the 3000 line is effective.
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 decreased slightly, the volume decreased significantly, and the contract market was relatively inactive. The basis of futures contracts increased slightly.
According to data from Huobi Study Club, DeFi TVL decreased slightly and valued at $110.14 billion, the true locked value decreased slightly and valued at $81.63 billion. Among them, the top programs have not changed much. Today’s total DeFi trading volume increased slightly and it is $4.72 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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