Cryptomarket Analysis July 12
Main page Finance, Cryptocurrency, Bitcoin, Ethereum, Dash
Hot topic
12 July

What happened with bitcoin, ethereum and dash rates over the past 24 hours.

Bitcoin

Bitcoin (Bitcoin) has broken both low-volume levels ($6,222 and $6,264) and currently is moving towards $6,125. Buyers’ activity (or lack of it) will allow to outline further dynamics. If buyers act jointly and move bitcoin back above $6,264, then it is possible to see a movement into the $6,320 – 6,400 area. Otherwise, bitcoin will most likely test the $6,021 mark.

Daily Scenarios

1. Bullish

Bulls can expect a return to the upper part of the high-volume area, a $6,391 test to meet the resistance at $6,400.

2. Neutral

Neutral scenario at these levels is unlikely.

3. Bearish

Bearish scenario provides a decline to the $6,125 level and further drift in the direction of $6,021.

Ethereum

Ethereum (ETH/USD) is much more confident than bitcoin, while a test at $426 is still possible.

Daily Scenarios

1. Bullish

The main goal for bulls is to return to $466 - the most popular level (with the highest trading volume) of the last 7 months. For reaching this purpose it’s necessary to test the $440 mark and then make a successful attack at $447.

2. Neutral

Neutral scenario may propose a consolidation in the current area ($426 – 440) with a possible attack at $447.

3. Bearish

Bears can hope to for an attack at $426, a breakthrough and then a decline to $421.

Dash

Dash (DASH/USD) continues to get cheaper. As noted earlier, the closest area, that can stop the fall, lays between $190 and $200.

Daily Scenarios

1. Bullish

Bullish scenario provides a growth up to $220.

2. Neutral

Neutral scenario at the current level is highly unlikely.

3. Bearish

Bearish scenario foresees a decrease to the $198 – 202 area.

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

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