Home Crypto Crypto Market Analysis Daily Review: Bitcoin stagnation, Ethereum downfall, Dash crash

Daily Review: Bitcoin stagnation, Ethereum downfall, Dash crash

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Daily review: Bitcoin stagnation, Ethereum downfall, Dash crash

Bitcoin

  • Fundamental analysis: Bitcoin had a pretty steady day, with practically no movements. Fundamentals on this crypto currency have not changed, while sentiment is still slightly bearish. Lightning Network keeps expanding, but that fact is not advertised properly. On the other hand, CNBC and other news outlets keep pushing bearish news, which makes people fear investing.
  • Technical analysis: After trying to push above $6400 and failing, Bitcoin returned to its consolidation path, near the price of $6270. Further movements are expected soon, but the direction is yet unknown.

Ethereum

  • Fundamental analysis: Ethereum has been struggling for quite some time now. The articles, news and videos bring out the extremely bearish sentiment towards this Cryptocurrency. Most media outlets announce the “end of Ethereum” as a thing that is inevitable.
  • Technical analysis: The technical outlook for ETH/USD is far from good. Hovering around $185, Ethereum is worth around 8% less than yesterday. This trend is highly likely to continue, with this market sentiment and no other bullish signs. However, for now, Ethereum has found support at $180.

Dash

  • Fundamental analysis: Dash is another Cryptocurrency with a bad market sentiment at the moment. However, the price defied that sentiment until today. Many people claim that dash has problems with the way it works, but the community and programmers dismiss the news.
  • Technical analysis: Dash was trying to sustain an unnatural upwards trend for a couple of days. The only question was when it would break. We called the break of the trend correctly, and when DASH reached $200, it broke the trend and fell sharply to bellow $190. This sharp decline will continue until DASH finds a good consolidation price.

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