What happened with bitcoin, ethereum and dash rates over the past 24 hours.
This morning bitcoin (Bitcoin) has tested the low-area $7,590. In addition to this, that level is the area where it began the fall in June. Such rapid growth requires some break, and in the next couple of days we can witness a consolidation in the $7,250 – 7,590 area.
Bullish scenario proposes to look at the primary target of $7,590, and then we can possibly see an attack at the $7,700 – 7,800 area.
Neutral scenario may reveal a test of $7,590 and a consolidation in the $7,400 – 7,530 area.
Bearish scenario provides an unsuccessful test of $7,590 and a decrease to $7,250.
Ethereum (ETH/USD) has almost reached the target provided by the bullish scenario ($516). The current position of the cryptocurrency seems unstable. Today it would be perfect to see a movement towards the $516 – 545 area. Another possible scenario is a drop to the $483 – 500 range.
Bullish scenario may reveal an attack at $516 and a fixation in the area $516 – 545.
Neutral scenario is very unlikely at the moment.
Bears may see a decrease to the $483 – 500 range and then some consolidation.
Dash (DASH/USD) has fulfilled the checklist of a bullish scenario - successfully capturing the $260 level and attacked the $272. Now the main task for buyers is to overcome the resistance at the $272 level. The cryptocurrency is a little bit behind ethereum and bitcoin, that have returned to the levels of early June, and for dash these levels are located somewhere between $306 – 321.
Bullish scenario provides an attack at $272 and further growth to $290 – 300.
Neutral scenario foresees an attack on $272 and subsequent consolidation in the $257 – 263 area.
The bearish scenario includes an unsuccessful test of $272 and a decline to $250.
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