Cryptomarket Analysis August 6

What happened in cryptocurrency world over the past weekend.

In general, over the past weekend the main cryptocurrencies showed a mixed trend. Bitcoin broke the support level ($7,238) and dropped to $6,920, partially implementing a bearish scenario. Ethereum turned out to be stronger: after the $420 test, the cryptocurrency returned to the lower border of the high-volume area. As a result, lower area level of $403 has disappeared and the control price dropped from $413 to $409. This hints that ethereum can stay in the current range for a while. Dash fixed at a psychologically important “round” level of $200.

After the fall on Saturday bitcoin (Bitcoin) has fixed in the $6,920 – 7,238 range but the decline continues and the current position of the cryptocurrency is unstable.

A further decline of bitcoin is likely, so there are no signals for billush or neutral scenarios. Bears may attack the $6,920 level. The main goal for this scenario is the $6,665 – 6,721 area.

Ethereum (ETH/USD) is consolidating near the control price of $409. Unlike bitcoin, the neutral scenario for ethereum seems the likely for today, as the situation and its goals haven’t changed since Friday. So a consolidation in $400 – 416 range is plausible.

Dash (DASH/USD) is currently stands at Friday’s morning level. On Saturday the cryptocurrency attempted a decrease, but the $200 level lended support. In general the goals remain the same with a downtrend.

The bearish scenario seems to be the most realistic and involves stretching the current range to $195. The nearest serious support is in the $186 – 190 range.

Aside from bitcoin, ethereum and dash, there are several other interesting digital currencies from the 1,700 available in total. The losers and winners of the past 24 hours: VikkyToken - 130,54% growth and Tristar Coin - 50,21% decrease. Keep an eye on cryptocurrencies, study them and use our quotes page to keep up to date.

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.