06 Oktober 2020

TA Tuesday: DeFi cooling down and BTC on solid levels

Daniel Kukan

Daniel Kukan

Senior Trader bei Crypto Broker AG

Über den Autor

Good Morning!


Despite all the major news of late BTC$ is still trading between 9,800 and 11,200. The overall situation seems to be quite solid, even the sharp sell of a few hundred points at the beginning of the month has been processed pretty well and rather quickly.


ETH$ traded alongside the market and is showing resilience. The resistance level of $360 is very strong and hard to take out. A relative solid support is around $320-$330.


ETHBTC$ is trading at an important support level of 0.033. So far, the support line is holding strong, and a further move to the upside will depend on the DeFi sector.


The DeFi Index has cooled down and is trading pretty much at the support level. This sector experienced rather high volatility recently and needs to consolidate for further upmoves.


The support line of $ 22,000 was broken easily. The next important support will come in at around $18,800.


DOT$ consolidated in a healthy way, and is trading within a narrow range. The next short-term resistance level is around $4.60. It will take a positive DeFi sector to be able to reach the $5.40 target again.