What happened with bitcoin, ethereum and dash rates over the past 24 hours.
Bitcoin
Bitcoin (Bitcoin: BITCOIN) technically remains in the ascending channel, the upper boundary of which turned into resistance yesterday. The $6,605 level was set as a support. At the moment bitcoin has two core scenarios. The first supposes a return to the high-volume area (the center is $6,727), the second one is a rollback to the $6,270 - 6420 range.
Daily Scenarios
1. Bullish
Bullish scenario assumes a drift towards the control price, an attack on the maximum mark of June 18-19 and a test of the upper boundary of high-volume area ($6,900).
2. Neutral
Neutral scenario proposes fluctuations in the current range (a rehearsal of consolidation dynamics is most likely).
3. Bearish
Bears can wait for a decrease to $6,450 level and a test of Monday’s minimum mark.
Ethereum
Ethereum (BITFINEX: ETH/USD.BITFINEX) looks to be in a stronger position than bitcoin. this morning ethereum has tested the $483 resistance mark and is now consolidating a little bit lower.
Daily Scenarios
1. Bullish
The main task for ethereum in this scenario is the movement to a high-volume area with a control price ($516). It is necessary to overcome the $483 resistance and fix in the $483 - 507 range.
2. Neutral
The unsuccessful attempt to enter the high-volume area can lead to the subsequent rollback to the $470-480 range.
3. Bearish
Bears expect a decrease to the control price ($459) and a consolidation in the $444 - 457 area.
Dash
Yesterday dash (EXANTE: DASH.EXANTE) fulfilled its main goal within the bullish scenario (rising to $258). The breakthrough of the resistance at the $246 level led to the expected buyers’ activity. Next goal is the upper boundary of the channel ($270).
Daily Scenarios
1. Bullish
Bulls are eager for an attack on the upper boundary of the channel that will be followed by a consolidation.
2. Neutral
It seems to be fluctuating within the $247 – 257 range.
3. Bearish
It’s possible to wait for a breakthrough of the $247 support and a decline to $236.
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