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Alt Coins Price Forecast March 26, 2018, Technical Analysis

By
Christopher Lewis
Updated: Mar 24, 2018, 05:48 GMT+00:00

The Bitcoin market struggled again on Friday, as crypto currency markets continue to show signs of weakness. It’s not until Bitcoin rallies that these can as well, right now that doesn’t look likely to happen. This continues to be a “sell the rallies” situation.

BTG/USD daily chart, March 26, 2018

BTG/USD

Bitcoin Gold fell a bit during the trading session on Friday, reaching down to the $56 handle. I think it’s only a matter of time before we test the $50 level again, just as we did last week. I also think that we will eventually break down below there. If we break down below the $50 handle, then I would anticipate a move to the $40 level next. I don’t have any interest in buying Bitcoin Gold, at least not right now.

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BTG/USD DASH USD and XMR USD Video 26.03.18

DASH/USD

The DASH market fell during the trading session on Friday, testing the $400 level again. This is an area that has shown significant support recently, but what worries me the most is that the bounce was so muted. If we break down below the hammer from last week, I think the market unwinds to the $300 level rather quickly. If we do bounce from here, it’s not until we break above the $500 level that I would be interested in going long. In the meantime, I would expect a lot of volatility and choppiness, and that will more than likely continue to be the overall attitude going forward.

DASH/USD daily chart, March 26, 2018

XMR/USD

Monero markets also fell during the day on Friday but did bounce a bit from the $200 level. We ended up forming a bit of a hammer, but I also recognize that we have a significant resistance just above at the $225 level. It is because of this that I think a short-term rally could appear, but that will more than likely only be sold off yet again.

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Monero/USD daily Chart, March 26, 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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