Alt coins get reprieve on Wednesday

BTG/USD

Bitcoin Gold rallied slightly during the day, gaining over 1% as both Bitcoin and Ethereum rallied to pull the rest of the crypto currency markets higher. Because of this, it’s likely that this is a short-term rally only, and I see that there is a lot of noise between here in the psychologically important $50 level. Quite frankly, I’m not going to bet on a digital currency that hasn’t been able to hold gains for a significant amount of time against the greenback, which is the strongest fiat currency in the world currently.

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DASH/USD

The DASH market rallied a bit as well, but obviously is in a downtrend. I think selling rallies makes a lot of sense, especially near the $350 level which should be psychologically and structurally important. The market has recently broken below the $300 level, a bit of a milestone, so a reaction was to be expected. However, we have broken below the $300 level once before, so that means the next time will be easier.

XMR/USD

Monero rallied a bit more than 1% during the trading session as I record this, reaching towards the $160 level. While it has been rather volatile as of late, the one thing that you cannot deny is that Monero has been underperforming for quite some time. I believe the market will rally again for a short amount, but until we break above the $180 level, I’m not impressed and I’m looking to sell signs of exhaustion.

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BTG/USD DASH USD and XMR USD Video 31.05.18