Cryptocurrencies price prediction: Bitcoin, EOS & DASH - European Wrap - 24 October
Bitcoin (BTC) resumes the decline, $7,400 gives way
Bitcoin (BTC) resumed the decline and moved below $7,400 handle. At the time of writing, BTC/USD is changing hands at $7,370, down 1% since the beginning of the day and losing over 7% on a day-to-day basis. Wednesday's collapse took thee price below SMA100 (Simple Moving Average) on a weekly chart for the first time since the beginning of May, which spells gloom and doom for the Bitcoin forecasts.
EOS price analysis: EOS/USD loses over 5% amid sharp sell-off on the market
EOS, the 8th largest digital asset with the current market value of $2.5 billion hit $2.53 low on Wednesday amid a sharp sell-off on the cryptocurrency market, At the time of writing, EOS/USD is changing hands at $2.70, still down over 5% on a day-to-day basis. The coin is moving in a lockstep with the market, which means it is vulnerable to further losses if bitcoin continues the decline.
Dash market overview: DASH/USD creeps into the oversold zone
DASH/USD has been trending horizontally in a narrow range between $74 and $67.50 before the bears rallied together and dropped the price down from $67.40 to $62.85 this Wednesday. The price has tried to break above the resistance provided by the downward trending line and the 20-day Simple Moving Average (SMA 20) curve but has repeatedly failed to do so. The hourly breakdown shows us that the price was trending horizontally around $67 before it dropped to $62.75 within three hours. Currently, the price had fallen further to $62.
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FXStreet Team
FXStreet
