What happened with bitcoin, ethereum and dash rates over the past 24 hours.
Wednesday’s minimum mark came out as the bitcoin’s (Bitcoin) support level. Currently, the cryptocurrency is testing the mark again.
Bullish scenario assumes a test of Tuesday’s benchmark price ($6,629) and a subsequent movement to $6,727.
It’s rather possible to fix fluctuations in the current area with a gradual drift towards the $6400 direction.
In this scenario bitcoin can test a lower-volume area ($6,222) and return to last Saturday-Monday’s range ($6.280 – 6,420).
Ethereum (ETH/USD) moves to the target, provided by the bearish scenario of Thursday ($440). At the moment, ethereum is in the high-volume area, so we can witness some consolidation before the fall.
Bullish scenario proposes a consolidation in the current area, and emergence of the buyers that would test $466. Under these circumstances this scenario is unlikely.
Neutral scenario can show result in a test of $457 and a return to the current area.
Bears are waiting for a consolidation and then an attack at the $440 level with a subsequent rebound to $450.
Currently, dash (DASH/USD) is following the nominal trend line. For the future mid-term growth, dash should continue supporting this trend. Future scenario will depend on it.
In bullish scenario the trend line presents as a support, the cryptocurrency returns to $245 and then makes an attack on $250 - 252.
We can foresee fluctuations in the current area with a drift to the $242 direction.
Bearish scenario involves breaking a trend, testing of Wednesday’s minimum mark ($230) with a possible attack of $224 and a subsequent rollback to $232.
Trading 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