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Alt Coins Price Forecast March 2, 2018, Technical Analysis

By:
Christopher Lewis
Updated: Mar 2, 2018, 05:40 UTC

Alt coins have rallied during the day as Bitcoin picked up a bit during the trading session on Thursday. I believe that the market continues to be very volatile, and I believe that there is plenty of support just below. Are we starting to wind up for a larger move?

BTG/USD daily chart, March 02, 2018

BTG/USD

Bitcoin Gold rallied significantly during the trading session on Thursday, gaining over 4%. By breaking above the $112 level, the market reach towards the $119 level before pulling back and find support above the $112 level again. I think that eventually the market will probably go towards the $120 level above, which is an area that will cause a bit of a push back. If we can clear that area, I think that we will continue to grind towards the $150 level. In the meantime, I think that the market has a massive support level underneath at the $105 region.

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BTG/USD DASH USD and XMR USD Video 02.03.18

BTG/USD daily chart, March 02, 2018
BTG/USD daily chart, March 02, 2018

DASH/USD

DASH rallied as well, reaching towards the $620 level. We are in the midst of a lot of noise though, so I think we may have to pull back to build up the necessary momentum to continue to go higher, perhaps reaching towards the $650 level. I think that the market is very noisy, and I believe that the $580 level underneath is a significant “floor” in the market. I think that longer-term, the market could go to the $750 level, and then to the $800 level. If we were to break down below the $560 level, the market should break down significantly.

DASH/USD daily chart, March 02, 2018
DASH/USD daily chart, March 02, 2018

XMR/USD

The Monero markets also rally, gaining over 6% as I record this. We’ve and broke above the $300 level, signifying that perhaps we are starting to see more momentum into this market. If we can clear the $310 level, I believe that point the market should then go to the $325 level. I believe that there is massive support underneath, especially near the $285 level.

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Monero/USD daily Chart, March 02, 2018
Monero/USD daily Chart, March 02, 2018

About the Author

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.

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