Market Analysis of January 14, 2020 – Arnaud Deblander
The marketcap has been moving up (+4.46%) since yesterday. The total capitalization is 228 022 210 610 USD.
The 4-hour and daily technical situation is positive while the 1-hour technical indicators are showing signs of possible decline.
What to do about it?
A return to the 8200–8300 is therefore not impossible and will be an excellent entry point if the rebound is confirmed.
- The supports of the day are at 8200$ — 8000$
- The resistances of the day are at 8600$ — 8800$
Same thing for ETH which evolves around 150 in a positive technical context in 4 hours and daily. The technical situation in 1 hour is already negative which does not exclude a return to the level of 146.8 or even 145.
We will therefore wait for this level before initiating a long position.
- The supports of the day are at 149.9$ — 145$
- The resistances of the day are at 152.4$ — 145.1$
It is necessary to wait for a return on support before positioning at the purchase.
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