Alt Coins Price Forecast March 23, 2018, Technical Analysis

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Updated: Mar 23, 2018, 04:53 UTC

Alt coins continue to struggle a bit, as Bitcoin and Ethereum continue to drive pressure lower in the crypto currency markets. Because of this, it’s going to be difficult to make money in these coins, least not until the major players get moving.

BTG/USD

Bitcoin Gold drifted a bit lower again on Thursday, as we simply cannot keep up any momentum to the upside. At this point, selling the rallies will more than likely be the best way to go when it comes to Bitcoin Gold. You can see that we have already just about wiped out the gains from Monday, and it looks like we are destined to test the $50 level again. Currently, I have no interest in buying this currency.

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BTG/USD DASH USD and XMR USD Video 23.03.18

DASH/USD

The DASH market looked the most technically sound of the alt coins that we follow here at FX Empire, but we are starting to see DASH roll over just like the others. At this point, I suspect that we will break through the $400 level and test the $350 level again. The alternate scenario would be a sudden turnaround that has the market breaking above the $500 level. At that point I would be very bullish, but I do not expect to see that anytime soon.

DASH/USD daily chart, March 23, 2018

XMR/USD

Monero try to break above the $225 level but formed a shooting star on Wednesday. Thursday trading doesn’t look any better, as we tried to reset level again but rolled over to form another shooting star. I believe that the markets are going to go looking towards the $200 level next, and then eventually the $175 level. If that market gets broken, I suspect that Monero is going to continue to unwind. It’s not until we break above $250 that I feel comfortable buying Monero currently.

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Monero/USD daily Chart, March 23, 2018

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.