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Alt Coins Price Forecast February 15, 2018, Technical Analysis
Updated: Feb 15, 2018, 04:54 GMT+00:00
The “alt coins” all had a strong session on Wednesday, as Bitcoin and Ethereum took off. These markets tend to be very reactive, so it’s not a huge surprise that they rallied. With less volume, they do tend to move quicker, but they are heavily reliant on what goes on in the major coins.
BTG/USD
Bitcoin Gold rally during the session, breaking towards the $130 level. Volume did pick up a little bit so that’s a good sign, if we can clear the $140 level we will open the door to the $150 level next. Breaking above there on volume could send this market much higher. In the meantime, it looks as if it is a buy on the dips scenario.
BTG/USD DASH USD and XMR USD Video 15.02.18
DASH/USD
DASH traders rallied significantly during the trading session on Tuesday, breaking towards the $675 level. A clearance of this area, and perhaps even the $700 level should send this market much higher. It would confirm a bit of a bottoming pattern, as volume is picking up. At this point, I say odds probably favor this move and $800 will almost certainly be targeted. At that point, I would expect a lot of noise, so I would not anticipate that DASH will sliced through $800 so quickly. We will probably need to have several attempts before breaking out above that level.
XMR/USD
Monero traders rally during the day as well, gaining over 10% as I record this video. It looks as if the market is ready to reach towards the $275 level, and then by extension the $300 level. It now looks as if the $225 level is going to offer a “floor” in the market. We are bit overbought, so a pullback would make sense, but I think that pullbacks will only offer buying opportunities for those who are patient enough. Volume has picked up a bit, which has been anemic in the Monero markets as of late.
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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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