What happened with bitcoin, ethereum and dash rates over the past 24 hours.
After news broke that Korean Bithumb cryptoexchange was hacked into, bitcoin (Bitcoin) fell out of the consolidation region. The current situation seems to be sustainable, but a return to the level above $ 6,675 is possible.
It’s possible to expect a return to the consolidation region of $6,675 – 6,750 and a testing of Tuesday’s maximum mark.
Highly likely we will see a consolidation in the region of $6,560 – 6,630.
We can assume a gradual drift to the $6,470 level and a test of Monday’s minimum mark.
Ethereum (ETH/USD) has held a stronger position in comparison to other currencies yesterday. It tested the upper boundary of the high-volume region and even launched an attack on the $550 level. However, the negative news forced ethereum to return to the lower sub-region of $515 - 525.
It’s possible to expect a breakthrough into the upper sub-region, a moderate consolidation and then an attack at the level of $560.
We can predict price valuations within the boundaries of high-volume region with a possible transfer into its upper part.
We hope to see a consolidation within the boundaries of lower sub-region with a subsequent price drop to the range of $490 – 500.
Dash (DASH/USD) has been trading in the region of $250 – 270 over the last week, and its attempts to break away are fruitless. That indicates a certain balance between the buyers and sellers and hints at a possibility that the dynamics will be upheld.
We can consider an attack at the maximum range of $270 and a fixing at the upper boundary.
It’s probable that we will see a drift to the lower boundary of a range $250 and a return to the $235 level.
An alternative would be a decline to the $250 level and a test of local minimum mark of $235.
The trade 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.
By Yana Sher