What happened in the cryptocurrency world over the past weekend.
Friday was neutral for all the cryptocurrencies with some propensity for grow. On weekend bitcoin, ethereum and dash tested basic goals of the bullish scenarios, meeting the interest of the sellers and rolling back to the previous consolidation levels.
Bitcoin
Over recent days bulls made some progress with bitcoin (Bitcoin: BITCOIN):
- held the cryptocurrency above the border of high-volume area ($6,263) and the $6,180 mark. The closest support is around $6,300.
- moved the most popular level of lower area a bit higher (from $6,357 to $6,376).
Most of the previous three days, bitcoin held up in one of two consolidation areas - $6,300 - 6,440 and $6,440 - 6,550. After the failed night-time attempt to get to the upper range we are likely to see a return to the lower range with a test of its lows.
Daily Scenario
Today we may expect fluctuations within the lower consolidation area - $6,300 - 6,440.
Ethereum
Ethereum (BITFINEX: ETH/USD.BITFINEX) tested the $318 - 320 range. As it was expected, at this level sellers became active and returned the cryptocurrency to the center of the high-volume area. Now we know that the majority stop marks are concentrated slightly higher and these levels become a potential magnet for buyers.
Daily Scenario
Today neutral scenario is most preferable for ethereum that provides consolidation within the $282 - 303 area.
Dash
Dash (EXANTE: DASH.EXANTE) tried a return to the $164 - 168 area but failed to fix there and rolled back to Thursday's levels.
Daily Scenario
Today bears are interested in supporting the area of $144+. After its breakthrough the cryptocurrency may fall to $132 - 136.
Aside from bitcoin, ethereum and dash, there are several other interesting digital currencies from the 1,700 available which are worth taking a look at. The losers and winners of the past 24 hours are: Namecoin - 63,68% growth and Gold Bits Coin - 27,03% 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.