Daily Crypto Update - July 13, 2020

#BTC 24 Hour High $9,319.42 $BTC 24 Hour Low $9,197.45 $BTC +0.4%





Early weekend markets saw flatline volumes across the board, for the most part.  We saw a tad bit of correction on DeFi tokens, but they quickly recovered to the same levels. The largest beneficiary by far was $LINK as it continued its momentum from last week, pushing to new ATH on Sunday with a jump from 6.10 to 7.14. It’s looking increasingly realistic for $LINK to reach $10 with a bit of market correction in the short-mid term. Currently trading at overbought levels on RSI indicators and on the upper range of Bollinger bands. 


  • There’s not been much capital injection into the market as the overall digital asset market cap remains range bound between 266 and 270B. Seeing more $BTC holders converting into $LINK with $LINKBTC up 20% overnight from 66,300 sat to 77,800.

  • $BTC on the other hand range bound between 9230<>9280 over the weekend with both low traded physical and future volumes at 27% VOL.

  • $BTC future volumes dropped below 5B for only the second time in two months aggregated across all top exchanges. Open interest steady at 3.5B, with bull/bear indicator at 70:30 to start the week.

  • $ETH also saw lower trading volumes, and remained range bound between 236 and 243 over the past three days after rejecting 250 levels early last week. Rumors of ETH 2.0 Phase 0 being delayed until 2021 may lead to FUD amongst those currently long $ETH for the long-term, potentially pulling back below 200 support levels in the short-mid term.

DeFi coin watch:

  • $LEND up four consecutive days, up 25% during this period and 0.23 on the upper Bollinger bands and trading above 10d and 30d SMA.

  • $COMP slumping six out of the past seven days, after rejecting 220 last week down to 175, trading at the bottom Bollinger bands and oversold levels with RSI at 40.

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