Alt Coins Price Forecast March 15, 2018, Technical Analysis

By:

Updated: Mar 15, 2018, 05:47 UTC

Alt coins fell during trading on Wednesday, which isn’t much of a surprise considering Bitcoin and Ethereum can’t find buyers. Because of this, the market looks as if it is ready to unwind rather significantly as we are testing significant levels on longer-term charts.

BTG/USD

Bitcoin Gold fell again during trading on Wednesday, as we have broken below the $75 level. We are now testing the lows from a couple of months ago, and if we break down below the $70 level, the bottom is going to fall out. We will almost certainly reach towards $50, but quite frankly I don’t think we stopped there either. Bitcoin Gold is in serious trouble.

Get Into Dash Trading Today

BTG/USD DASH USD and XMR USD Video 15.03.18

DASH/USD

Dash traders initially tried to rally during the day on Wednesday but found the area above the $500 level as being far too resistive to continue going higher. Because of this, we did up forming a shooting star, and it now looks as if we are testing massive support just below that extends down to the $400 level. With that in mind, I am a seller below $400, and only a buyer if we can turn around and break above the $550 level. In general, crypto currency markets continue to struggle and I think that is going to be the case going forward.

XMR/USD

Monero fell again on Wednesday, testing the $230 level. This is the 61.8% Fibonacci retracement level of the entire bubble that has been part of this marketplace, so if we break down below here I think we will probably unwind down to the $180 level, and if we break down below there we could go as low as $80. With the volatility in the crypto currency space, I do not anticipate the Monero will do any better than the others.

Buy & Sell Cryptocurrency Instantly

Suggested Articles

About the Author

Christopher Lewisauthor

Being FXEmpire’s analyst since the early days of the website, Chris has over 20 years of experience across various markets and assets – currencies, indices, and commodities. He is a proprietary trader as well trading institutional accounts.