Alt Coins Price Forecast – alt coins making a base?

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Updated: Jun 16, 2018, 07:13 GMT+00:00

Alt coins were relatively quiet during the trading session on Friday, and over the last several days have been somewhat stagnant. The question now is whether they are trying to make some type of base? That would of course be a very positive turn of events and could get traders excited about than once again. Both Bitcoin and Ethereum have shown signs of support as well, at least on the weekly charts. That could come into play over here.

BTG/USD

Bitcoin Gold fell 2% during the day on Friday but continues to look very sideways more than anything else, which of course is a good sign considering how bad things had been. If we can turn around to break above the $35 level, we could run towards $38 after that, and then possibly even $40. Otherwise, it’s likely that a break down from here could send this market looking towards the $30 level underneath.

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DASH/USD

DASH was down about 2% during the day as well but looks to be trying to form some type of base around the $250 level. However, I would not be a buyer until we cleared the $280 level, as it would produce a “higher high.” This market will of course be moved to buy at that point, as it is a technical turn around. Remember that both Bitcoin and Ethereum have a major influence on other crypto currencies such as DASH.

XMR/USD

Monero drifted a little bit lower during the day, losing 6% on Friday, as we continue to see this market underperform any of the other ones. However, the weekly candle is a bit of a hammer, so we could be in the beginning of a basing pattern. If we can turn around and break above the $133 level, we are likely to go looking towards the $150 level above. Otherwise, look for this market to revisit the $100 handle.

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ALT Coins DASH USD and XMR USD Video 18.06.18

About the Author

Christopher Lewisauthor

Chris is a proprietary trader with more than 20 years of experience across various markets, including currencies, indices and commodities. As a senior analyst at FXEmpire since the website’s early days, he offers readers advanced market perspectives to navigate today’s financial landscape with confidence.

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