Cryptomarket Analysis September 7

What happened in the cryptocurrency world over the past 24 hours.

On Thursday, the situation in the cryptocurrency market developed according to a neutral and moderately bullish scenario. Many expected more interest from buyers after such a sharp collapse.

Bitcoin (Bitcoin) tested $6,536 - a secondary level of high-volume. In the past this level acted as support on several occasions. Usually, after that the cryptocurrency rolled back to the lower border of the high-volume area ($6,263).

Time lapse: on September 7, 2017 bitcoin price was $4,567.

BTC chart by TradingView

Yesterday's attack at local minimum mark ($6,300) showed the presence of convinced buyers at this level. Today bears will try to test it once again. The next targets for sellers will be the lower border of the current high-volume area and the minimum mark of August, 14 - $5,858.

Ethereum’s (ETH/USD) dynamics still looks unconvincing. Short-term charts show an ascending wedge. Usually its breakthrough moves towards the prevailing trend.

Time lapse: on September 7, 2017 ethereum price was $324,43.

ETH chart by TradingView

Today the most likely scenario is the bearish one. Bears are interested in testing local minimum marks and a support at $198. If it doesn’t resist, further reduction to $188 - 190 is possible.

Dash (DASH/USD) prefers the bullish scenario. It proposed a $184 test and a rollback to $175 before resuming growth.

Time lapse: on September 7, 2017 dash price was $339,86.

DASH chart by TradingView

The primary goal for bulls today is the $194 - 201 area. After fixing there, the cryptocurrency will be able to attack the local maximum marks.

Aside from bitcoin, ethereum and dash, there are several other interesting digital currencies worth taking a closer look at. The losers and winners of the past 24 hours are: Fargocoin with 85,04% growth and MIB Coin with 60,65% 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.