BTG/USD, DASH USD, and XMR USD Forecast January 24, 2018, Technical Analysis

BTG/USD

Bitcoin Gold drifted a little bit lower during the day on Tuesday, as the crypto currency markets were relatively quiet. I think that the attitude of market participants continues to be one of the ladies, as the crypto currencies have been absolutely crushed as of late. If Bitcoin, Ethereum, and many of the other currencies continue to struggle, the smaller coins such as Bitcoin Gold will struggle as well. I believe that the $200 level above is resistance, and that short-term rallies or selling opportunities.

Get Into Dash Trading Today

BTG/USD DASH USD and XMR USD Video 24.01.18

DASH/USD

DASH traders sold the market off during the day on Tuesday, reaching down to the $680 level to find support. Market participants continue to be somewhat underwhelmed, as the market continues to drift lower. The $600 level underneath will be the target, and a source of significant support. At this point, it’s very unlikely to break above what I see as the target to start buying: the $800 handle. If we did, then it would be a very bullish sign but in the meantime, I suspect that rallies are to be sold, as the markets continue to struggle.

XMR/USD

Monero traders were also very lackluster during the day, with almost no volume. The market is currently trading just below the $300 level, but I think a short-term rally is possible. That rally should be a selling opportunity, especially if the US dollar starts to strengthen in the Forex markets. What the market needs is both Bitcoin and Ethereum to pick up momentum, otherwise the smaller currencies don’t stand much of a chance. They do tend to move in the same direction of the longer term, so if we can get some buying pressure over there, it should translate into higher Monero pricing.

Buy & Sell Cryptocurrency Instantly