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Alt Coins Price Forecast March 2, 2018, Technical Analysis

By
Christopher Lewis
Updated: Mar 2, 2018, 05:40 GMT+00:00

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

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

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

About the Author

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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