Alt Coins rally significantly during the previous weekWith Ethereum and Bitcoin showing signs of life again, it looks as if the alt coins are trying to follow suit. In fact, that’s where the money was to be made over the last week.
Bitcoin Gold rallied a bit during the week, gaining quite a bit too overcome the $60 level. I think that short-term pullback should continue to be buying opportunities and it now looks as if the Bitcoin Gold market is ready to go to the $80 level. Above there, we could go to the $100 level. This is more of an investment than a trade, so be cautious about over leveraging this market, and simply add on short-term pullbacks unless of course we were to break down below the $40 level.
The DASH market pulled back slightly during the week but found enough bullish pressure to break above the $400 level, reaching towards the $440 level. I think that the market is going to try to break above the shooting star from a month ago, which means that if we can clear the $475 level, the DASH market could reach towards the $600 level next. I think we are starting to see a bit of a floor in the crypto currency markets, and that the buyers may be ready to get involved again and continue a larger uptrend. That doesn’t mean that it’s going to be easy, just that the buyers are starting to show themselves again.
Monero rallied a bit during the week, initially pulling back but then finding enough support underneath to break towards the $250 level. By doing so, that’s a very bullish sign and I think that the market should continue to go higher. Ultimately, I think that we could go to the $365 level above, which was massive resistance previously. I think that the $150 level is now a bit of a floor.