Evening Market Report July 12

BTC is trading sideways during the day, focus on the breakthrough above 34700 and support below 34000 in the evening

According to the data from Huobi Global Station, BTC continues to trade sideways during the day around 34000. The K-line has been penetrating EMA 5, and is located above EMA 10 and EMA 20. All three EMAs are in a upward trend. The K-line is located between the middle and upper rails of the Bollinger band, and the opening of the Bollinger band has no obvious trend of expansion or contraction. DIF is located above DEA. DEA turns from negative to positive and DIF remains positive. Volume is relatively depressed, the market may go upward slightly or be sideways for a period of time. Daily level, BTC rose slightly today, but the rise was not large. Continue to pay attention to the change in volume and the breakthrough of 34700 above and 34000 support below in the evening.

According to Huobi Global Station data, ETH is oscillating sideways around 2150 on the day. The K-line has been penetrating EMA 5 and EMA 10, and is located above EMA 20. All three EMAs are flattened. The K-line is located between the middle and upper rails of the Bollinger band, and the opening of the Bollinger band has no obvious trend of expansion or contraction. DIF is located above DEA, and both are negative. Volume is relatively depressed. The market may continue to consolidate sideways for a while. At the daily level, ETH rose slightly today. Continue to pay attention to the change in volume in the evening as well as the breakout above 2200 and the support below 2100.

In terms of contracts, the data of Huobi Futures the big data of Huobi Contract shows that the BTC contract position is relatively stable, the contract volume dropped slightly, and the contract market is relatively inactive. The basis difference of the delivery contract has increased slightly. ETH contract positions are relatively stable, contract volume has decreased, and the contract market is relatively inactive. The basis difference of the delivery contract is relatively stable.

According to data from Huobi Club, today,the total locked position (TVL) of DeFi was relatively stable today reaching $79.70 billion, and the real locked position was relatively stable at $58.51 billion. Among them, the headline items did not change much. Total Defi volume declined today, reaching $1.87 billion. Among them, Mdex fell by a large margin, reaching 62.36%.

About Huobi Research

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.

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