Evening Market Report August 5
BTC dropped after a sideways trading within a day, pay attention to the lower support.
According to data from the Huobi Global, BTC traded sideways at 39,400 in the morning, and fell slightly in the afternoon, reaching as low as 37900.00USDT. In four-hour level of picture, the K line continuously crossed EMA 5, EMA 10 and EMA 20 downwards during the day, and EMA 5 crossed EMA 10 and EMA 20 to form death crosses, and the three EMAs showed a downward trend. The K line crosses the middle track of the Bollinger Band downwards within a day, approaching the lower track, and the opening of the Bollinger Band continues to level off. DIF continues to be above DEA, and both are negative. The trading volume is relatively sluggish, and the market may continue to fall. In day level of picture, BTC fell slightly today, and the decline basically reversed the yesterday’s increase. In the evening, continue to pay attention to the continuation of the downward trend and the breakthrough of 39000 above and the support of 37500 below.
According to data from the Huobi Global, ETH traded sideways at 2700 in the day, and dropped slightly in the afternoon, reaching as low as 2576.42 USDT. In four-hour level of picture, the K line crosses EMA 5 and EMA 10 downwards in the day, and continues to stay above EMA 20, and the three EMAs tend to be flat. The K line continues to be located between the upper and middle tracks of the Bollinger Band, and the opening of the Bollinger Band slightly expands. DIF continues to be above DEA for the day, and both are positive. CCI crossed the 100 line downwards. The trading volume is relatively sluggish. The market may continue to fluctuate. In day level of picture, ETH fell slightly, and the decline was basically reversed 1/3 of yesterday’s increase. In the evening, continue to pay attention to the continuation of the downward trend and the breakthrough of 2730 above and the support of 2500 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 decreased slightly.
According to data from Huobi Study Club, today, DeFi TVL remained stable and valued at $90.93 billion, the true locked value remained stable and valued at $68.55 billion. Among them, the top programs have not changed much. Today’s total DeFi trading volume decreased slightly and valued at $4.10 billion. Among them, the top programs have not changed much.
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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.