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The Bid is Back

July 14, 2020 • 
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Some digital assets have bounced back strongly overnight, suggesting that the rally in alt-coins is far from over. Bitcoin traded sideways.

Morning Traders,

With the equity markets higher overnight on ambiguous earnings results, there is a suggestion of the type of bullishness that emerged in markets after the Quantitative Easing after the GFC.

With stocks only going up the big tech stocks had taken a bit of a break from the endless rally the last couple of sessions, but the general direction should be beneficial for digital assets.

Bitcoin

The latest move in Bitcoin was lower, but the asset is still trading sideways. Next stops are above $ 9,360.

Bitcoin last traded at $9,263

24 hr high: $ 9,280

24 hr low: $ 9,096

Bitcoin USD Chart

Ethereum

Ethereum is still looking good on the chart, trading above its long-term down-trend as if waiting for permission for a significant rally. With the opportunity for equity weakness likely given up last night, an imminent rally is far more conceivable.

Eth last traded at 240.2

24 hr high: $ 242.20

24 hr low: $ 236.76

Ethereum USD Chart

Digital Assets

Digital assets have bounced back overnight, with Chainlink up significantly, Cardano trading higher, Aave higher by 10% and Synthetix and Algorand by 4%.

  • Aave: $ 0.235
  • Algorand: $ 0.275
  • Cardano: $ 0.1334
  • Chainlink: $ 8.12
  • Compound: $ 164.54
  • Maker: $ 463.26
  • Ren: $ 0.1815
  • Reserve Rights: $ 0.00854
  • Stellar: $ 0.092
  • Synthetix: $ 2.69
  • Tezos: $ 2.97
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