Analysis of the cryptomarkets 08.05.2018
Main page Finance, Bitcoin, Ethereum, Dash

Technical market analysis from cryptobroker AMarkets, Insider.pro partner

Bitcoin

Bitcoin (Bitcoin) is still being listing just above $9200 support. The hourly time frame clearly shows that for second day in a row this line remains an inaccessible barrier for the sellers. Most likely the stability of $9200 bar can be explained by the proximity of the long-term sliding average EMA200 which is passing at the level of $9300.

At this stage there is no reasons to refuse the purchase so the previously opened long position with $9000 is still relevant. In favor of further growth of BTC/USD counts MACD which is about to get to the positive territory. The purchase purpose is in testing of the resistance of $10 500.

Dash

Dash (DASH/USD) shows a sluggish dynamics traded in the range of several dollars. The lower boundary of the long-term uplink takes a role of so called magnet which does not allow quotes to break down.

The indice of market conducts RSI left the resold zone and at the moment is on the bulls and bears balance.

Dash is in a position when it is impossible to go without additional triggers and bitcoin volatility or updated fundamental background can fully rise to this role.

The recommendation is still the same - keeping the purchase with a goal higher above $500.

Ethereum

Ethereum (ETH/USD) looks much more interesting today. Since yesterday's low of $685 the ETH/USD pair was able to recover by 10%, clearly preserving the facility for further growth. The long-term sliding average EMA200 activated another purchase order from the level of $718. Considering the current quotes above $740 both orders are profitable.

As the buyers managed to get the asset over the EMA25, EMA50 and EMA200 in parallel with the support of positive MACD and neutral RSI, the expectations of quick resistance drop of $780 are extremely high with such technical support. We remind that we plan to build up a long position at this level indicating the common goal for all the orders at the mark of $820.

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