What happened with bitcoin, ethereum and dash rates over the past 24 hours.
Yesterday situation in the market has developed in accordance with the bearish scenario. Ethereum achieved all the goals stated out while dash proved to be more stable and stayed within the neutral scenario. Speaking of bitcoin the primary support was fixed at the $7,930 level.
Currently bitcoin (Bitcoin) is consolidating at the $7,909 level. It doesn’t seem stable, so today we can expect a test in the $8,200 direction or a decrease to $7,704.
Today the main task for bulls is to return to the high-volume area ($8,155 – $8,320) and fix in it. Further attack at $8,450 – 8,500 is also possible.
Neutral scenario seems unlikely, but still possible. Bitcoin may move to the lower border with an upward drift towards $8,040 – 8,120.
Bearish scenario proposes a decline to $7,704 with a possible test of $7,590.
Ethereum (ETH/USD) has tested the $459 mark and consolidated in the $462 – 465 area. It’s worth noting that the control price of Friday is at the same level as on July 19 and 22. Today we can expect the dynamics that symbolized previous days at these levels. The market is in balance and fluctuates within a certain range. Going beyond this range will be a signal to buy/sell with a target at the border of the high-volume area ($483 or $442).
Bulls need to return the cryptocurrency to the $466 level before mounting an attack at $483. It’s curious that ethereum has never broken through the $483 resistance, starting from higher levels ($475). It will be interesting to observe ethereum’s dynamics in this regard.
As ethereum is currently situated in the high-volume area, the neutral scenario seems to be the most logical continuation. It provides a consolidation in the $459 – 468 area.
The aim for bears is obvious: the lower border of the high-volume area ($442). In this case, it’s necessary to remember the possible support at $450.
In general, dash (DASH/USD) has supported the downward dynamics of the rest of the market, while remaining within the neutral scenario. The cryptocurrency fluctuates in the $240 – 252 area with periodic borders tests, indicating the balance between supply and demand.
The main task for buyers remains an attack at $256 – 260. In the current conditions, it’s important to settle in the upper part of the range of the previous days ($250 – 256).
Neutral scenario foresees a consolidation in the $237 – 250 range.
Bearish scenario hasn’t changed: a decline to $226 with the subsequent movement towards the $220 direction.
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.