What happened with bitcoin, ethereum and dash rates over the past weekend.
After July 4, bitcoin (Bitcoin) price has rolled back to its previous level and dropped even lower. Sellers will activate at the level of $7,000 (which investors can call a non-player barrier between bulls and bears). In June, this marked the level, where the decline began.
Today the main goal for buyers is to attack the resistance at $6,850. If the attack is successful, the next target will be May’s minimum mark $7,100.
At night bitcoin was checking at the lower border of the high-volume area. We can expect a return to the $6,727 and then a test of $6,770 mark (top of the border).
In this scenario bitcoin may return to $6,503 – 6,626 area.
Ethereum (ETH/USD) attempted to exit the high-volume area ($458 – 483). For further growth it’s necessary for ethereum to fix above $483, then worth hoping for the movement to $516.
Bullish scenario provides an attack on the maximum mark of Sunday ($495), a small consolidation (up to $486) and an increase in the direction of $516.
It’s obvious to see a consolidation in the current area with a test of maximum mark of Sunday.
Bears may test the $486 level and wait for a return to the high-volume area.
In the nearest future dash (DASH/USD) should break the borders of the triangle.
Bullish scenario foresees a test of $245 – 246 area, a subsequent small rollback to $244 and an attack towards $252.
We can predict fluctuations in the current area (further energy accumulation for a subsequent breakthrough).
Bearish scenario assumes a test of $245, then a decline to $240, a break of the trend and a movement to the minimum mark of July 4 ($230).
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