Technical analysis

Which trend for cryptocurrencies this summer?

Julien Moretto – 1 Jul 2020

We didn’t have a real explosion of volatility at the end of June in the crypto market. Bitcoin remains above €8,000 ($9,000) and is trading around €8,170 ($9,170) on July 1st, despite a 4.6% decline over a week. A slightly bearish trend has been in place since June 24, but the most important supports are still holding. This stabilization of the price looks more and more like a consolidation preceding a continuation of the uptrend initiated since March 13, 2020. In the short term, price levels are clear as to which of the buyers or sellers will initiate the next trend in the market. Let’s analyse the market.

  • According to CoinGecko, Market capitalization is down to $264 billion from $273 billion seven days ago.
  • Bitcoin’s dominance remains stable at 64% this week.
  • the best performance of the top 50 is signed by the Synthetix (SNX) token with +28% over the week.
  • The new DeFi projects and protocols are booming at the moment, just like Balancer. Coinhouse clients can benefit from the expertise of our teams to find out which projects are of real interest and how to take advantage of them.

We invite you to discover our full analysis in video (recorded on june 30, in french)

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