Bitcoin Gold DASH and Monero Price Forecast January 15, 2018, Technical Analysis
Bitcoin Gold
Bitcoin Gold traders went back and forth on Friday, breaking above the $220 level at one point, but then pulled back to find support below. I think the market may try to rally from here, but longer-term Bitcoin Gold has me a bit concerned as volume has been dipping rather drastically. I believe that the market participants will continue to favor buying this market in the short term, but longer-term I would be very cautious. I think that any rally at this point will probably go looking towards the $240 level, but getting above there is probably going to be difficult to continue.
BTG/USD DASH USD and XMR USD Video 15.01.18
DASH/USD
DASH continues to be reasonably quiet near the $1000 level, an area that has offered a bit of support. I think that support extends down to the $950 level, just as I seen a significant amount of resistance above current levels. The markets continue to be very limp at the moment, as volume has been dropping, so quite frankly I feel it’s easier to short this market on rallies, for small moves. The market seemed to be very tight and difficult to trade for a large move. Ultimately, if we can break down below the $950 level, the market should go much lower. Otherwise, look for a lot of back and forth noisy trading.
Monero
Monero traders rallied a bit during the trading session on Friday, reaching towards the $380 level. However, towards the end of the day it looks likely that we are going to roll over and reach towards the $360 level underneath. The market is crossing over on the stochastic oscillator on the hourly chart, so I think it’s reason enough to think that profit-taking is occurring, and we will probably fall towards the $350 level next. Currently, looks as if the $400 level above is massive resistance, and I don’t think that’s going to change anytime soon. Monero looks a bit suspicious, as do most alt coins around the crypto currency space.
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This article was originally posted on FX Empire
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