Evening Market Report September 24
BTC dived in the late afternoon, keeping an eye on the breakout of 41800 and 45000.
According to data from Huobi Global, BTC dropped in the afternoon on volume, price broke below the recent trend line and the uncertainty of the uptrend increased. The latest K-line is almost a bare-headed and bare-footed mid-negative. price pressure is high and the possibility of a further dip cannot be ruled out. 3 EMAs converge and EMA5 is about to penetrate to form a dead cross. The middle rail of the Bollinger band remains horizontal, the opening is widened and the K-line penetrates below the middle rail. both the DIF and DEA are in the short control area, with a tendency to form a dead cross. Compared with the short term release of the previous few days, the support below this decline is smaller, it is not advisable to rush into the bottom, it is recommended to wait and see for the time being. Daily level, BTC today is a small negative, the upper shadow and entity length is comparable, 3 EMA are down, the trend is not clear. Intraday concern about the continuation of the down market, concern about the support of 41800 and 45000 blocking situation.
According to data from Huobi Global, ETH declined slightly today and its trading volume increased. From the daily level, ETH has experienced a moderate decline today after rebounding yesterday. Looking at the four-hour level, the K line is basically located below each EMA. From the perspective of the Bollinger Band, the K line is located on the lower rail, the Bollinger Band has a wide opening, and we continue to pay attention to changes in the trading volume.
In terms of contracts, the data of Huobi Futures showed that the BTC contract’s open interest is basically stable, the trading volume fluctuates, and the contract market is active. The basis of delivery contracts dropped slightly.
The open interest of ETH contract fell, the trading volume fluctuated and rose, and the contract market was not active. The basis of delivery contracts dropped slightly.
According to the data monitoring of Huobi Study Club, the total DeFi TVL dropped slightly to $113.3 billion, while the actual lock-up volume fell slightly to $82.6 billion. Among them, QuickSwap lock-up volume increased by 150%. Today’s total DeFi transaction volume dropped slightly to $3.07 billion.
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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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