Evening Market Report September 17
BTC is shaking to the downside in the afternoon, focusing on the support of the middle rail of the BB.
According to data from Huobi Global, BTC shocked to the downside in the late afternoon with sluggish volume. From the 4H level, it seems that BTC may have entered a short-term downward channel, and the RSI trend line also shows a downward trend, and the price is subject to some pressure. The price fell below EMA5 and EMA10, the 3 EMAs flattened, the middle rail of the Bollinger band flattened upwards, the opening narrowed, the MACD double lines are very close, the price uptrend is suspended. If the price can get support in the middle rail of the Bollinger band, it is possible to break the downward channel and return to the uptrend. If the support is insufficient, it may still fall. At the daily level, BTC has seen two consecutive negative days, and the price is near the bottom of the middle rail of the Bollinger band, with an unclear trend. During the day, we are concerned about the continuation of the down market, the support of the middle rail of the Bollinger band and the blocking of 48000.
According to data from Huobi Global, ETH fell slightly during the day at 2.96%. From the 4h line, the openings of the three moving averages are gradually reduced. The k line is located in the middle track of the Bollinger band, and the opening of the Bollinger band is tighten. The trading volume is relatively sluggish, DIF crosses DEA, and the long side and the short side are balanced. From the daily perspective, the ETH price dropped slightly today and is located in the middle of the Bollinger Band.
In terms of contracts, the big data of Huobi Future showed that the BTC contract holdings remained unchanged, the contract volume declined slightly, and the contract market was relatively inactive. The basis of the delivery contract is stable.
ETH contract holdings decreased slightly, contract trading volume decreased slightly, and the contract market was relatively inactive. The basis of the delivery contract is basically stable.
According to data monitoring by Huobi Study Club, the total DeFi lock-up volume (TVL) dropped slightly to $109.6 billion, and the real lock-up volume dropped slightly to $8.426 billion. Among them, the top project has not changed much. Today’s total DeFi transaction volume dropped slightly to $366 million.
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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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