What happened in the cryptocurrency world over the past 24 hours.
On Tuesday trading was adhered to the neutral scenario once again. The cryptocurrency market is in balance and the most likely scenario for the nearest future is an attack at the local maximum marks (for bitcoin and dash).
Bitcoin
Bitcoin (Bitcoin: BITCOIN) has slightly increased in price. Trader’s activity is low and the multiple tests of $7,412 look rather strange. It’s worth to keep in mind today’s maintenance procedures in OKEx exchange, we may probably see some changes after it like in case of Bitmex.
Time lapse: on September 5, 2017 bitcoin price was $4,193,55.
Daily Scenario
BTC chart by TradingView
We still believe in bulls and their attack on the control price of $7,412 and the upper border of the high-volume area ( $7,590). Buyers are very curious to test the $7,600 - 7,700 range. After this, it will be clear whether bitcoin will go higher or we’ll witness some correction.
Ethereum
Ethereum (BITFINEX: ETH/USD.BITFINEX) meets the morning of Wednesday at the same levels as yesterday. The cryptocurrency continues to consolidate in the high-volume area.
Time lapse: on September 5, 2017 ethereum price was $294,18.
Daily Scenario
ETH chart by TradingView
Ethereum has spent enough time at the current level and now a direct attack at $298 is possible, it’s the most important task for bulls at the moment.
Dash
Dash (EXANTE: DASH.EXANTE) is on a verge of change. Today the most likely outcome is either an attack at the local maximum mark and the $236 level or an uptrend will be broken, which will necessarily lead to the increased pressure of sellers. The cryptocurrency is at the same levels as yesterday, but there is no time for further uncertainty.
Time lapse: on September 5, 2017 dash price was $305,97.
Daily Scenario
DASH chart by TradingView
The primary goal for bulls is the $236 level. After consolidation in the $236 - 257 range the cryptocurrency will mount an attack at $280 - 290.
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: Bionic with 257,96% growth and Bitcoin File with 37,52% 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.