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BTG/USD, DASH USD, and XMR USD Price Forecast January 30, 2018, Technical Analysis
Updated: Jan 30, 2018, 04:15 GMT+00:00
The alt coins that I follow are all looking a bit soft, but it is also a bit of a mixed picture, suggesting that there may be opportunity after all. There has been a very thin market as of late, as volumes have dried up. Because of this, I have the following outlook for these 3 coins.
BTG/USD
Bitcoin Gold drifted a bit lower during the trading session on Monday, and very thin volume. It looks like we are consolidating between $170 level on the bottom, with the $200 level on the top being a bit of resistance. The market is likely to go back and forth, and we are essentially in the middle of this range, so I am hesitant to put a lot of money into this market or hang onto a trade. I think that we will eventually break out, but I don’t know the direction and the lack of volume doesn’t suggest is going to happen anytime soon.
BTG/USD DASH USD and XMR USD Video 30.01.18
DASH/USD
The DASH market drifted a bit lower during the trading session on Monday, reaching down towards the $740 level. There is a bit of support just below, but it looks as if we are going to continue to roll over a bit, perhaps reaching down to $700. The lack of volume, except for negative candles, tells me that sellers are a bit more aggressive than buyers, and of course we should see lower pricing because of this. If we managed to break above the $850 level, then I think that the market would go much higher. Until then, it’s probably a back and forth and choppy sort of situation that we find ourselves in.
XMR/USD
Monero traders have sold during the trading session on Monday, falling from the $340 level which has offered a bit of resistance. I think that the lack of volume in this market speaks volumes, meaning that we should continue to see lackluster performance at best, and a massive selloff at worst. A breakdown below the $280 level freeze this market to go down to the $250 level. Alternately, a break above the $350 level sends this market looking for the $400 level.
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About the Author
Christopher Lewisauthor
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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