Alt coins rollover for the weekThe alt coins all fell during the week, with a significant push late, as the Bitcoin and Ethereum market struggled on Friday. Because of this, it looks as if we will continue to see a lot of trouble, and I think that we are going to go looking for support just below.
Bitcoin Gold fell during the week, with the majority of the loss coming on Friday. In fact, Friday we were down over 12%, showing the continued bearish pressure in these alt coins that have been a mainstay since the beginning of the year. The $100 level above has been a major psychological barrier, and we have most certainly turned away from there. Now I believe we are going to go looking towards the $40 level again for support.
The DASH market broke down significantly during the week, reaching towards the $400 level. If we can break down below there, then I think the market goes down to the $300 level underneath, which has been support more than once. Because of this, I think that the market should be attracted to that region. The $600 level has obviously caused quite a bit of concern, and you can see turned everything around, with a shooting star forming a couple of weeks ago.
Monero fell rather hard during the week as well, crashing into the $200 level. It’s obvious that we continue to see bearish pressure, as a couple of weeks ago we saw a massive shooting star that found a lot of selling pressure at the $300 level. Ultimately, it looks as if the market is likely going to break below the $200 level, reaching down to the $150 level below. That’s an area that has been support more than once, but we have now made a series of “lower lows” on the longer-term chart, and I think that $150 could get broken through to the downside.