Cryptomarket Analysis October 1

What happened with bitcoin, ethereum and dash over the last weekend of this September.

On Friday, September 28 the situation in the cryptocurrency market developed in some cases in accordance with a bearish scenario, but only the basic goals were fulfilled while the sellers behaved rather inconsistently. On Saturday and Sunday bitcoin, ethereum and dash compensated for a part of Friday's losses and spent the rest of the weekend consolidating.

The market for bitcoin (Bitcoin) on Friday was unstable - most likely the outflow of futures contracts affected. On such days it’s pointless to look at the levels because the auction process is violated due to hedging positions of large players. The second half of Saturday and Sunday the cryptocurrency held the $6,534 - 6,646 area.

Time-lapse: on October 1, 2017, bitcoin made a little growth to $4,314.

BTC chart by TradingView

Today bitcoin is most likely to continue consolidation further in the $6,534 - 6,646 range.

Ethereum (ETH/USD) repeated the dynamics of bitcoin but it turned out to be slightly stronger and fixed in the upper border of the high-volume area. The nearest support lies at the $225,5 level (the open control price of Friday). While ethereum is holding above it, the bullish behavior is most likely.

Time-lapse: on October 1, 2017, ethereum price floated near $298,81.

ETH chart by TradingView

Today bulls will probably attack the upper border of the high-volume area. After that, a further test of local maximum marks ($251 - 255) is possible.

Dash (DASH/USD) returned to the $180 - 195 range, so further behaviour may be different.

Time-lapse: on October 1, 2017 dash dropped to $314,96.

DASH chart by TradingView

Today we may see two scenarios: bears are very interested in the support of the $177 - 180 area. At the same time bulls are going to charge for the $200 - 215 area.

Aside from bitcoin, ethereum, and dash, there are several other interesting digital currencies or altcoins worth taking a closer look at. The losers and winners of the past 24 hours are: Sumokoin with 125,67% growth, and Mithril Ore with 42,89% 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.