What happened with bitcoin, ethereum and dash rates over the past 24 hours.
Bitcoin (Bitcoin) has returned to the high-volume region while testing the local maximum mark three times over the past three days. The hourly chart shows an ascending triangle. The bullish scenario with an attack on the $7,200 level and a transfer to the $7,250 – 7,700 range seems most likely. A downward trend on the other hand may meet some resistance.
The bullish scenario assumes the continuing fluctuations within the $6,675 – 6,780 range with a possible test of a $6,800 mark and a subsequent rollback to its lower boundary with an attack on $ 7,200.
In this case, we can expect a further consolidation in the region of $6,675-6,780.
It’s possible to see a drop to the lower part of the triangle and a test of the $6,600 region.
Ethereum (ETH/USD) continues to rise in price and has already come close to the resistance at $550, that’s where the majority of the market will step into play. Today we could see a much anticipated attack at the $560 – 570 level with subsequent consolidation in the $559 – 573 region.
We hope to see a further increase of buyers' pressure, a breakthrough resistance and an attack at the $560 level.
In this scenario fluctuations in the consolidation area of $532 - 544 are possible.
We can consider a strengthening of the position at the current level, followed by a rollback to the $520 level towards the direction of an upward trend.
Dash (DASH/USD) continues to stay in the $250 – 270 range. Yesterday's dynamics have once again demonstrated this trend. Perhaps, today dash will escape with the support of potentially favorable market conditions.
It’s probable that we will see an exit from the channel and an attack at the $290 level.
We can predict a drift to the lower boundary in the $262 - 270 region.
An alternative could be a price decrease to the lower boundary of the channel with some transitional support in the $260 region.
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