Bitcoin Gold, DASH and Monero Price Analysis, November 29, 2017, Technical Analysis

Bitcoin Gold/USD

Bitcoin Gold fell slightly during the trading session on Tuesday, as we reached towards the $325 level again. Volume is very light as of late, and I think we will probably continue to drift a little bit lower from here, perhaps reaching towards the $300 level underneath. The $300 level, of course, has a lot of psychological importance, and structural support based upon an impulsive move a few days ago. I believe that Bitcoin Gold is going to continue to struggle just a bit, at least until Bitcoin itself can break above the $10,000 level. Once we get a move above the $10,000 level, I think that Bitcoin Gold will continue to rally as well, as it is a bit of a “knock on effect” that we could see around the cryptocurrency world.

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DASH/USD

DASH continues to go sideways, testing the $600 level for support, and finding it. I believe that the entire cryptocurrency space is waiting for Bitcoin to break out above the $10,000 level, and I think that the DASH market won’t be any different. I suspect there are massive amounts of support down to the $550 level, and a break below there would, of course, be very negative. In the meantime, I anticipate that buying dips will continue to be the way going forward, and a move above the $650 level would signify that we are ready to go much higher. This type of consolidate of action quite often is an attempt to build a bit of a base for the next leg up, but we don’t have much in the way of volume in this market either, and that, of course, is working against the value of the uptrend. Look for the next impulsive candle with volume, and follow right along. I suspect that buying continues to be the way forward.

Monero/USD

Monero rally during the day, reaching the $188 level. The market pulled back to the $175 level but found enough support to turn around and form a bit of a bounce. I think that the market should then go to the $200 level above, which is a psychologically important level. We have recently seen an impulsive candle at the end of the Monday session, but volume continues to be a bit then. I think that pullbacks find plenty of support down to at least the $160 level, if not the $150 level after that. Monero has been very bullish during the last 24 hours, unlike many of the other cryptocurrencies and seems to be unconcerned as to whether Bitcoin can break the $10,000 handle.

It is because of that reason alone that I think that Monero is going to continue to strengthen in general. I also believe that the US dollar falling due to the US Congress not being able to pass tax reform will continue to help Monero as well. I have no interest in selling.