What happened in the cryptocurrency world over the past 24 hours.
Over the past 24 hours the market was developing in accordance with a neutral scenario with an eye for a weakness. Cryptocurrencies tested the lower borders of consolidation area and (as it seems) attracted the interest from buyers.
Bitcoin
After a night’s test of the $6,236 bitcoin (Bitcoin) returned to Monday’s morning levels. It’s obvious that the cryptocurrency will remain in the current area. Further movement will be clear after August 23.
Daily Scenario
Today we may still see fluctuations within the lower consolidation area - $6,300 - 6,553.
Ethereum
Ethereum (ETH/USD) broke the lower border ($274) of the high-volume area, partially realizing a bearish scenario, but managed to return and now is consolidating at $279 level. The price dynamics indicates the probability of a further decline, but it’s more logical to wait for the SEC's decision. Negative verdict will give an additional boost for sales.
Daily Scenario
The neutral scenario provides a moderate growth and consolidation in the $277 - 291 range.
Dash
Dash (DASH/USD) broke the support at $144 but the sellers failed to develop their success. Currently the cryptocurrency is trading at around $145,5.
Daily Scenario
Today a neutral scenario is the most probable as its associated with some growth (just like ethereum). The scenario provides some movement into the $147 - 155 area and fluctuations within its borders.
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: ShowHand - 74,42% growth and Flash - 28,32% 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.