Alt coins choppy and mixed on WednesdayAlt coins were choppy and mixed during the session on Wednesday as the crypto currency markets were initially negative, but then turned around to show signs of strength and not only the alt coins, but the Bitcoin and Ethereum markets.
Bitcoin Gold initially fell during the session on Wednesday, reaching down to the $66 level to find support and reach back towards the $70 level. We have broken through what has been significant support, so now that we have bounce from here and tested that area, I suspect that we are more likely to fall than anything else, but if we were to break above the $72 level, that would show enough bullish pressure to perhaps make a move to $75, and then perhaps the $80 level after that.
The DASH/USD market has broken down rather significantly to start the day on Wednesday, but then bounced from the $410 level to reach towards the $440 level. There is a lot of noise above there and extending to the $450 level. I think that the market should continue to respect the $450 level in general, as it was an area that was very supportive, and it should be resistive over the longer term. I think that if we break above the $465 level, then the market should go much higher. Otherwise, I think we are getting ready to roll over and go down towards the $400 level again. Pay attention to Bitcoin and Ethereum, as they will have a major influence on alt coins in general.
Monero markets pulled back to the $216 level before exploding to the upside, reaching towards the $235 level. There is enough resistance near that region to keep the market somewhat contained. I think if we break down from here, the market is likely to reach towards the $220 level again, but right now I think Monero will follow the rest of these markets more than anything else.