What happened with bitcoin, ethereum and dash rates over the past weekend.
Currently, the trading is in the high-volume area ($6,080 - 6,190) and the market is balanced. The most likely scenario today for bitcoin (Bitcoin) is the ongoing consolidation within the boundaries of this area (in the absence of any major news).
We can expect a consolidation in the high-volume area of $6,080 - 6,190 with a test of the boundary and a breakthrough at $6,007, which could be followed by a rapid buy-back and an attack on the $6,340 level.
It’s possible to see a consolidation in the current area with a test of the boundaries.
The bearish scenario will result in a decline into yesterday's high-volume area.
Outlook for Ethereum (ETH/USD) is very much similar to bitcoin. The only difference is that the high-volume area is just above the current price.
We hope to meet a test of $460 level, a rollback to $445 level with a subsequent attack and a fix in the high-volume area.
Ethereum is still under the consolidation in the current area ($447 - 458).
After the unsuccessful test of $460 level and a fall to the $433 - 443 area bears are waiting for a pressure on the local minimum mark.
On Friday dash (DASH/USD) has dropped out of the $250 - 270 channel. Now the lower boundary has become its resistance.
We still wait for a return to the channel and a movement to the upper boundary ($270).
Dash will most likely drift into the $ 236 - 247 area.
We can predict a consolidation in the $240 - 244 area and a subsequent attack on the minimum mark.
The trade in the cryptocurrency market is associated with high risks and is not suitable for every investor. The above analysis should not be considered as a recommendation or a call to action. Each trader should assess the risks for themselves. Both the author and Insider.pro are not liable for the potential losses incurred.
By Yana Sher