What happened in the cryptocurrency world over the past weekend.
During the weekend, the situation in the cryptocurrency market developed according to a neutral scenario. The attacks, that were aimed at "punishing" short sellers, didn’t follow through and the volume of trading was the lowest since July last year.
These past three days bitcoin (Bitcoin) remained in the area of the largest volume over the last year and a half. A decrease of that volume performs as an alarm signal - if today the situation doesn’t change, then we may probably see large downward movement.
Time lapse: on September 17, 2017 bitcoin price fixed at $3,503.
BTC chart by TradingView
Currently we are witnessing a long-term consolidation which can break at any minute after the movement of big traders. At the moment bitcoin’s behavior is still amorphic and today we may see further consolidation in the $6,370 - 6,534 range.
Ethereum (ETH/USD) has had a calm weekend, without making any clear movements. The only notable event was a downward puncture on Sunday.
Time lapse: on September 17, 2017 ethereum stopped at $239,34.
ETH chart by TradingView
Today the neutral scenario provides a consolidation within the $212 - 224 range with possible upward movement into $203 - 209.
Dash (DASH/USD) stretched the trading range to $183,7 but managed to keep away from a fall. In general, the weekend turned out to be completely unremarkable and only on Monday morning the cryptocurrency managed to overcome the $195 mark.
Time lapse: on September 17, 2017 dash was decreasing and fixed at $285,94.
DASH chart by TradingView
Today we are hoping for growth. The primary goal for bulls is to test the maximum marks of $206 - 209. In case of success, further growth to $220 - 225 is possible.
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: SiaCashCoin with 255,9% growth and Abulaba with 82,06% 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.