Alt Coins relatively flat during Thursday session

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Updated: May 18, 2018, 06:14 UTC

The alt coins were relatively flat during the Thursday session as we continue to hover around a couple of major areas. At this point, the only way to put serious money in these markets as if it’s more of a longer-term trade than anything else. However, there are some levels that we can pay attention to that could give us new trade signals.

BTG/USD

Bitcoin Gold fell slightly during the session, being one of the softer crypto currencies that I follow here at FX Empire, but continues to find plenty of support near the $55 level. I believe that the $60 level above is resistance, and if we can break above there it’s likely that we could continue to go higher, with $65 be in the initial target. If we do break down below the $52.50 level, then I think we probably go looking towards the $50 handle.

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DASH/USD

The DASH market did very little during the day, as we continue to hang about the $410 level. The $400 level underneath is supportive due to the large come around, psychologically significant figure. I think that there is a lot of order flow in this area, so I’m not looking to put a lot of money to work quite yet, but I think that it’s likely that longer-term investors may be looking to try to build up a position. I believe that currently you could take your time and wait for an impulsive day to start putting money to work. If we break down below the $375 level, we will continue to go even lower.

XMR/USD

Monero markets rallied a bit during the day but continue to hover around the $200 level in general. I believe that the market has a significant “floor” at the $192 level, so I would anticipate buyers coming back in. If we break down below there, then the market probably drops down to the $180 handle.

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BTG/USD DASH USD and XMR USD Video 18.05.18

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.