Cryptomarket Analysis July 2
Main page Finance, Cryptocurrency, Bitcoin, Ethereum, Dash
Hot topic
2 July
644 644
Kirill Kononovich
Columnist of Insider.pro

What happened with bitcoin, ethereum and dash rates over the past weekend.

Bitcoin

Right now, bitcoin’s (Bitcoin) rate is balanced and has been fluctuating in the high-volume area over the last two days. We can expect that this dynamic to continue on.

Daily Scenarios

1. Bullish

Billing scenario assumes that bitcoin will test a benchmark price, then an upper boundary of the high-volume area ($6,608) and then return to the control level ($6,727).

2. Neutral

In this scenario we can expect some fluctuations in the $6,270 - 6,420 range with a test of both boundaries.

3. Bearish

It is possible to fix a decline into the $6,060 – 6,200 range. This scenario seems most likely, keeping in mind Saturday’s splash and the resulting dynamics. At the same time, bearish scenario may lay the foundation for further medium-term growth.

Ethereum

Ethereum (ETH/USD) is following the same dynamics as bitcoin in general. Currently, ethereum is traded in the lower part of high-volume area ($440 – 483).

Daily Scenarios

1. Bullish

Bulls are returning to the most popular level for the last seven months - $460 and the test of the upper boundary of the current area ($475).

2. Neutral

It is likely to see a consolidation at the current borders of ($440 - 460).

3. Bearish

Bears are waiting for a fall to the $426 - 440 area and a consolidation near the control price ($433).

Dash

The hourly charts of dash (DASH/USD) are demonstrating the formation of an upside down "Head and Shoulders" figure. In the case of success, we can witness a moderate growth in the upcoming days. The possible target is the upper boundary of the channel ($270).

Daily Scenarios

1. Bullish

Bulls will probably attack the resistance at the $246 level and test the $256 level.

2. Neutral

Neutral scenario proposes a consolidation within the $234-244 boundaries.

3. Bearish

Bears are hoping for unsuccessful test of the $246 level and a decrease to the $216 - 220 area.

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

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