What happened in the cryptocurrency world over the past 24 hours.
On Monday the situation in the cryptocurrency market developed according to a bearish scenario. Bitcoin fulfilled all its tasks, ethereum is currently moving to the lower border of the high-volume area and the control price of Wednesday / Thursday (as it was expected). Dash unsuccessfully attempted to stay above $190. At the moment the cryptocurrency has entered the $180 - 190 area and continues to become cheaper.
Bitcoin (Bitcoin) returned to the most popular level of the high-volume area. That move was expected in a situation where buyers refused to pursue further attempts to move the cryptocurrency upwards (take a look at the active buy-back of Thursday and Friday and compare it with an utterly unimpressive weekend). Today the most likely behavior is a consolidation within the current area.
Time-lapse: on September 25, 2017, bitcoin stopped its growth at $3,783.
BTC chart by TradingView
Bitcoin returned to the largest high-volume area. It proposes a certain balance of supply and demand, so all scenarios for today are the variations of the neutral one.
At the moment ethereum (ETH/USD) has fulfilled all the goals of the bearish scenario of Monday. Today the consolidation in the current area with tests of its lower border is most likely.
Time-lapse: on September 25, 2017, ethereum price floated near $288,66.
As was predicted dash (DASH/USD) returned to the area of $180 - 190. Now all eyes are on its lower border. If it doesn’t stand up to the pressure of sellers, further drop to $160 is rather probable.
Time-lapse: on September 25, 2017 dash was rising, fixing at $355,44.
Today bears are going to attack the $177 - 180 area. Their next goal is the $160 level.
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: Abulaba with 266,41% growth, and HollyWoodCoin with 33,97% 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.