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Bitcoin Gold DASH and Monero Price Forecast December 28, 2017, Technical Analysis

Christopher Lewis

BTG/USD

Bitcoin Gold tried to rally during the day, but struggles at the $300 level yet again during the Wednesday session. I believe that the market will continue to be difficult to navigate over the next several sessions, as what is typically a very illiquid market will continue to not only be a quick, but even more so this week as we are between holidays. If we can break above the $300 level, at that point I think it’s a strong buy signal. Otherwise, we could drift towards the $220 level below.

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BTG/USD DASH USD and XMR USD Video 28.12.17

BTG/USD daily chart, December 28, 2017

DASH/USD

DASH continues to be very noisy, bouncing around the $1100 level, and showing significant resistance at the $1200 level. A break above the $1200 level would be very positive, it could happen relatively soon as DASH continues to be very bullish in general. I think if we can break above the $1200 level, we will probably go looking to the $1400 level next, but I also see the potential for a pullback as volumes are very thin. Currently, I look at the $1000 level is the next support level, and the next possible buying area if we do get some type of easing in price.

DASH/USD daily chart, December 28, 2017

XMR/USD

Monero of course initially rallied during the trading session on Wednesday, but fell at the $400 level, finding in a bit too important. Now that we have done this, we have dropped towards negativity, but I think there is an uptrend line underneath it will continue to support this market. With this being the case, I think it’s only a matter of time before the buyers get involved, and that we reach towards the $400 level again. If we can break above the $400 level, then the market probably looks for the $475 level which has been important in the past. I believe the most important thing on this chart though is going to be the uptrend line, so if we can stay above there it’s a “buy the dips” type of situation.

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Monero/USD daily Chart, December 28, 2017

This article was originally posted on FX Empire

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