What happened with bitcoin, ethereum and dash rates over the past 24 hours.
Bitcoin
On Monday, the situation on the market was rather bullish. Bitcoin (Bitcoin: BITCOIN) tested the upper boundary of the high-volume region. The resulting sales were slightly stronger than it was first suggested (the sellers were striving to protect a local maximum mark). Further attack on $6,340 was unconvincing - bitcoin was unable to fix above $6,220 and began to drift towards the high-volume area.
At the Asian session the buyers were more active and returned the price of bitcoin above the $6,220 level.
Daily Scenarios
1. Bullish
We suppose that bitcoin will test the $6,340 level, but it worth waiting for a rollback to the $6,250 level, and an attack on $6,433 and $6,451 (the growth is possible up to $6,511).
2. Neutral
The current situation is unstable: bitcoin rate may go up as high as $6,450 or return to $6,133.
3. Bearish
Bears can expect a test of $6,340 level, a return to $6,250 level and a further decline into the high-volume area ($6,130 – 6,220).
Ethereum
Currently, ethereum (BITFINEX: ETH/USD.BITFINEX) lies is in the high-volume area ($446 – 482) and will remain there apparently, for some time. In such conditions, it's possible to trade from the boundaries to the center against the tests of local maximum and minimum marks ($483 and $432).
Daily Scenarios
1. Bullish
We can see a test of $468, a rollback to $463 with a subsequent attack on $480.
2. Neutral
Ethereum will probably consolidate within the current area of $453 - 468.
3. Bearish
We hope to see a growth to $463, a rollback to $453 and a further decline to $444.
Dash
Yesterday the situation was neutral. Dash (EXANTE: DASH.EXANTE) tested the boundaries of its current channel ($235 – 245) and it's possible we will see the same dynamics today.
Daily Scenarios
1. Bullish
We can predict a rollback and a test of $261.
2. Neutral
Dash is still drifting in the $235 – 245 area.
3. Bearish
Bears may meet a consolidation in the $240 – 244 area with a subsequent attack at the minimum mark ($230).
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