Evening Market Report July 7

BTC is rising in steps during the day, and is concerned about the breakthrough above 35000 in the evening.

According to the data from Huobi Global Station, the K-line has crossed the EMA 5, EMA 10 and EMA 20, all three EMAs are on an upward trend. The K-line has crossed the middle rail of the Bollinger band and is approaching the upper rail, the opening of the Bollinger band has flattened. DIF has turned from negative to positive, crossed with DEA and is located above, there is an upward trend. Volume is relatively depressed, and the market may experience a step up followed by a sideways consolidation. On the daily level, BTC is slightly up today. Continue to pay attention to the continuation of the uptrend in the evening as well as the breakout above 35000 and the support below 34200.

According to the data from Huobi Global Station, ETH fell slightly during the day and will probably continue to consolidate sideways for a while. The K-line has been above EMA 5, EMA 10, and EMA 20, but has a tendency to go below EMA 5, and the three EMAs are flat. DIF is above DEA and both are positive. Volume is relatively depressed. The market may go sideways for a while. At the daily level, ETH is up slightly today. Keep an eye on the continuation of the uptrend and the breakthrough of 2400 above and the support of 2270 below in the evening.

In terms of contracts, the data of Huobi Futures shows that the BTC contract position is relatively stable, the contract volume fell slightly, and the contract market is relatively active. The basis difference of the delivery contract is relatively stable.

ETH contract positions rose slightly, contract volume fell slightly, and the contract market was relatively active. 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 at $83.03 billion today, and the real locked position was relatively stable at $61.29 billion. Among the headline items, there was little change. Total Defi volume fell today, reaching $1.31 billion. Among them, PancakeSwap fell by a large margin, reaching 63.61%.

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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