What happened with bitcoin, ethereum and dash rates over the past 24 hours.
Bitcoin
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 (BITFINEX: ETH/USD.BITFINEX) 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 (EXANTE: DASH.EXANTE) 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