What happened in the cryptocurrency world over the past 24 hours.
Cryptocurrencies declined following the decision of SEC. Bitcoin fulfilled all the goals of bearish scenario and tested the lower border of the high-volume area. Dash almost reached the local minimum mark, ethereum was supported by the control price ($259) of the high-volume area.
Bitcoin
Previous 24 hours showed a complete lack of consensus between buyers and sellers - bitcoin (Bitcoin) has passed an entire range without any significant areas of consolidation. First of all, it should be noted that before the fall bitcoin didn’t undertake any upward tests (the first sign of weakness). After the fall, there was also no reaction of bulls (the second sign). Thus, the most likely scenario for today is a moderate bearish scenario.
Daily Scenario
Bearish scenario provides a test of the $6,263 level, an attack at the $6,180 level and a decline into the $6,021-$6,236 range.
Ethereum
As we said previously ethereum (ETH/USD) was supported by the control price of the high-volume area. Today the most likely scenario is a bearish one with a test of the $259 level and minimum mark of August 14.
Daily Scenario
Bearish scenario foresees a decrease into the $247-$274 area with a test of local minimum mark.
Dash
Dash (DASH/USD) is traded very close to a local minimum mark. Its test is possible today. In case of success dash may reduce to $128-$129.
Aside from bitcoin, ethereum and dash, there are several other interesting digital currencies available from the 1,700 which are worth taking a look at. The losers and winners of the past 24 hours are: Internxt with 81,71% growth and Bitcoin File with 69,13% 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.