Cryptomarket Analysis September 12

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

On Tuesday the cryptocurrency market acted in accordance to a mixed scenario. Bitcoin showed a slight decrease, mainly remaining within the current area. Ethereum performed all the goals of a bearish scenario - testing the $174 - 176 area. Dash attacked the support level of $175.

Bitcoin (Bitcoin) remains within the current high-volume area ($6,236 - 6,598), and has punctured downwards but is still been bought. Yesterday, there was a slight lowering of the trading range, the cryptocurrency tested the consolidation area on September 8-9 and the level, from which the growth began on August 9. There is no consensus on the market yet, so bitcoin consistently checks the support levels for buyers.

Time lapse: on September 12, 2017 bitcoin price began to grow and fixed at $4,265.

BTC chart by TradingView

Today we continue to follow the neutral scenario, which assumes further fluctuations in the range of Monday-Tuesday ($6,230 - 6,350) with a tests of its borders.

Ethereum (ETH/USD) came out of the high-volume area $184 - 209 and now continues to fall. There is no signs of support. Buyers' activity is possible at $169, $159 and $140 levels.

If we talk about the global picture, in September we can see the first weak hints towards the end of the bearish trend. However, it’s too early to talk about it forming. Ethereum still can fall in price to $130, and even to $80, but now it starts to seem attractive for long term buyers. By the way, the previous bearish behavior continued from December, 2014 to September, 2015 - more than a year.

Time lapse: on September 12, 2017 ethereum was at $302,28.

ETH chart by TradingView

The $169 mark acted as support for ethereum, but close consolidation can force a further fall. The next significant level is at $159.

Dash (DASH/USD) tested the support level of $175. Bears will strive to develop their success further and return the cryptocurrency to the local minimum mark.

Time lapse: on September 12, 2017 dash was at $324,97.

DASH chart by TradingView

Today sellers will attack the support at $175 and $170 level. If the $170 mark doesn’t survive, its likely to see a decline to the local minimum mark.

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: ERC20 with 160,27% growth and EliteShipperToken with 53,95% 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.