Yesterday the market adhered to a bearish scenario as all the goals within the scenario framework were fulfilled.
Bitcoin (Bitcoin) returned to the high-volume $7,238 – 7,590 area.
Last month the cryptocurrency was in high-volume $7,238 – 7,590 area for four days (from July 18 to 22), so today the most likely scenario (of the - bullish, neutral, bearish) is a neutral scenario - a consolidation in this area with tests of both of its borders.
Ethereum (ETH/USD) tested the bottom of the triangle and continued its fall. The local support is presented by the $388 mark. After its breakthrough the reduction to $366 seems possible.
Taking into account a current downward trend the bearish scenario still seems the most possible. Bears are interested in testing the lower border of the current range ($388). Next step is a possible decline to $366.
Thursday’s downtrend for dash (DASH/USD) is likely to continue, that contributes to the bearish activity. The nearest important supporting level for bears lies in the $186 – 190 range. At the same time the cryptocurrency still fluctuates in the $205 – 215 area.
Stepping aside from bitcoin, ethereum and dash, lets take a quick look at some of the 1,700 digital currencies available, the losers and winners of the past 24 hours: Speed Mining Service - 218,23% growth and DigiPulse - 72,88% decrease. Keep an eye on cryptocurrencies, study them and use our quotes page to keep up to date.
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