What happened with bitcoin, ethereum and dash rates over the past weekend.
Currently, bitcoin (Bitcoin) is consolidating in the $6,323 – 6,389 area . Today, the most probable scenario proposes that a test in the direction of $6,532 is highly likely.
The main target of the bullish scenario remains the $6,520 – 6,538 area. Buyers need to control this area for a further attack on $6,640 and $6,727.
Neutral scenario predicts further consolidation in the $6,300 – 6,396 area for the ‘energy saving’. Test of both of its borders is possible.
Bearish scenario provides an unsuccessful test of $6,400 and a decline to the $6,222 – 6,266 range, which should lend some support.
Ethereum (ETH/USD) attacks the $453 level and a downtrend. As it was noted earlier, the breakthrough of this trend may mark the transfer to the sustainable mid-term growth.
Bulls may meet a small consolidation in the current area, an attack at $453 followed by a movement to $466 – 472.
Neutral scenario proposes a consolidation in the current area ($442 – 453) with a slight drift in the $445 direction.
Bears may see a decline in the $426 – 442 range and a test of its lower border.
Dash (DASH/USD) forms a descending wedge. The exit from this wedge may simultaneously coincide with the turn of the rest of the market.
Today, the main task for buyers is the attack of the $235 – 237 area (the upper border of the wedge). In case of its breakthrough, growth is likely to reach $246.
It’s possible to wait for a test of the $232 level and a decrease to $227.
Bearish scenario implies an unsuccessful upwards test and a subsequent rollback to the $219 – 222 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