Alt coins fall again for the week as crypto currencies continue to struggle

BTG/USD

Bitcoin Gold fell again during the week, slicing through the psychologically important $50 level, and now looks likely to test major lows that occurred just two months ago. If we break down below that swing low, then the market is free to unwind, perhaps down to near zero. I think this is a market that will decide the longer-term viability of Bitcoin Gold in the next couple of weeks, and therefore things do not look good at all.

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DASH/USD

DASH markets broke down significantly during the week, breaking below the bottom of the previous week, and even the $350 level. It looks very likely that we are going to go testing the $300 level next, and then possibly the $200 level. The $200 level should be a massive support level, but I think it needs to be tested by the sellers. This will be further exacerbated by the fact that the US dollar is very strong. At this point, it looks as if this market will follow the other crypto currencies market, which of course means lower. If we do rally, it’s not until we break above the $600 level that it becomes impressive.

XMR/USD

Monero markets have broken down below the bottom of the previous week, looking very likely to go down to the $150 level. That’s an area that has been massive support more than once, but as you can see every time we make a high, it becomes lower. The markets could bounce from the $150 level, but I would look at that as an opportunity to start selling at the first signs of exhaustion.

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BTG/USD DASH USD and XMR USD Video 28.05.18