Evening Market Report July 23

BTC is consolidating sideways during the day, focus on 32200 support below in the evening

According to data from Huobi Global, BTC fell slightly during the day, reaching a low of 32270.25USDT. In the four-hour level picture, the K-line continued to be above EMA 5, EMA 10 and EMA 20 during the day, EMA 5 tends to be flat, EMA 10 and EMA 20 are on an upward trend. The K-line is located between the upper and middle Bollinger band during the day, and the Bollinger band opening has a tightening trend. DIF continues to be above the DEA during the day, and both are positive. Volume is relatively depressed, the market may continue to sideways for a period of time. On the daily level, BTC fell slightly today. The evening continues to focus on the continuation of the downtrend and the support below 32200.

According to data from Huobi Global, ETH went sideways during the day, with a high of 2066.00 USDT and a low of 2039.07 USDT, and will probably continue to go sideways. The K-line is located above EMA 5, EMA 10 and EMA 20, with all three EMAs trending upward. The K-line is located between the upper and middle Bollinger band, with the Bollinger band opening trending tighter. DIF continues to be located above DEA during the day, with both positive. Volume is relatively depressed. The market may continue to consolidate sideways. On the daily level, ETH is up slightly today. Keep an eye on the continuation of the uptrend in the evening as well as the breakout above 2100 and the support below 1990.

In terms of contracts, the data of Huobi Futures showed that the BTC contract position is relatively stable, the contract volume declined slightly, and the contract market is relatively inactive. The basis difference of the delivery contract has increased. ETH contract positions are relatively stable, contract turnover is slightly decreasing, and the contract market is relatively inactive. The basis difference of the delivery contract fluctuated slightly and then stabilized.

According to the data monitoring of Huobi Study Club, today, the total locked position (TVL) of DeFi rose slightly to $76.18 billion today, and the real locked position rose slightly to $57.33 billion. Among the headline items The change was not significant. Total Defi volume declined slightly today to $2.84 billion. Among them, Uniswap V3 fell the most, reaching 7.51%.

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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Investing in digital assets carries risks and this article does not constitute operational advice.

We know Blockchain.Huobi Research: At this stage, Sushiswap is very similar to the incentive layer of Uniswap