Cryptomarket Analysis July 2
Main page Finance, Cryptocurrency, Bitcoin, Ethereum, Dash
Hot topic
2 July

What happened with bitcoin, ethereum and dash rates over the past weekend.

Bitcoin

Right now, bitcoin’s (Bitcoin) rate is balanced and has been fluctuating in the high-volume area over the last two days. We can expect that this dynamic to continue on.

Daily Scenarios

1. Bullish

Billing scenario assumes that bitcoin will test a benchmark price, then an upper boundary of the high-volume area ($6,608) and then return to the control level ($6,727).

2. Neutral

In this scenario we can expect some fluctuations in the $6,270 - 6,420 range with a test of both boundaries.

3. Bearish

It is possible to fix a decline into the $6,060 – 6,200 range. This scenario seems most likely, keeping in mind Saturday’s splash and the resulting dynamics. At the same time, bearish scenario may lay the foundation for further medium-term growth.

Ethereum

Ethereum (ETH/USD) is following the same dynamics as bitcoin in general. Currently, ethereum is traded in the lower part of high-volume area ($440 – 483).

Daily Scenarios

1. Bullish

Bulls are returning to the most popular level for the last seven months - $460 and the test of the upper boundary of the current area ($475).

2. Neutral

It is likely to see a consolidation at the current borders of ($440 - 460).

3. Bearish

Bears are waiting for a fall to the $426 - 440 area and a consolidation near the control price ($433).

Dash

The hourly charts of dash (DASH/USD) are demonstrating the formation of an upside down "Head and Shoulders" figure. In the case of success, we can witness a moderate growth in the upcoming days. The possible target is the upper boundary of the channel ($270).

Daily Scenarios

1. Bullish

Bulls will probably attack the resistance at the $246 level and test the $256 level.

2. Neutral

Neutral scenario proposes a consolidation within the $234-244 boundaries.

3. Bearish

Bears are hoping for unsuccessful test of the $246 level and a decrease to the $216 - 220 area.

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

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