What happened in the cryptocurrency world over the past weekend.
On Friday the situation on the crypto market developed according to the bullish scenario. The main cryptocurrencies has spent the weekend fluctuating.
Bitcoin (Bitcoin) fulfilled all the goals of the bullish scenario. On Friday the upper border of the $6,789 area was tested. The weekend was calm.
Time-lapse: on September 24, 2017, bitcoin fixed at $3,694.
BTC chart by TradingView
Today the target for buyers is the upper border of the current area of $6,789 and the range of relatively low-volume area of $6,789 - 6,920. If this scenario is successful the cryptocurrency can go above $6,920.
Ethereum (ETH/USD) tested the $247 mark and tried to enter the $247 - 267 area. At the moment the cryptocurrency is attacking Saturday's minimum marks and trying to return to the range of Friday.
Time-lapse: on September 24, 2017, ethereum price floated near $281,37.
ETH chart by TradingView
If today the cryptocurrency enters Friday’s range, a decrease to $209 - 212 will be most likely. Bulls are attracted by two unclosed daily control prices of Friday ($228) and Wednesday / Thursday ($210).
At the weekend dash (DASH/USD) looked unconvincing. In general, the situation was developing according to the bearish scenario (a series of weak tests in the range of $212 - 214), although its main goal wasn’t achieved. Logical attack at the maximum mark ($225) didn’t follow. The absence of convinced buyers at the current levels suggests a probable return to the $180 - 190 range.
Time-lapse: on September 24, 2017 dash was decreasing and fixed at $350,59.
DASH chart by TradingView
Today bears are going to attack the $177 - 180 area. A weak market structure lies below this area, but with the puncture of $177, the pressure of sellers will rise and the currency will fall in price to $145.
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: NetKoin with 69,73% growth, and Crowd Machine with 57,54% 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 Ihodl.com are not liable for the potential losses incurred.