Alt Coins roll over again during the Wednesday trading

Alt coins continue to roll over, as crypto currencies took another bashing during the day on Wednesday. At this point, it should be obvious that if the market rallies, it’s time to start looking for short positions. Ultimately, this is a market that will continue to follow Ethereum and Bitcoin, both of which are struggling. · FX Empire

Christopher Lewis

Updated Wed, Apr 4, 2018, 10:51 PM

BTG/USD

Bitcoin Gold fell during the trading session on Wednesday, breaking below the $43 level, and looks to be ready to break down below the $42 level. If we can get below there, the market should then go to the $40 level. I think that there is a lot of support at the $40 level, but it’s clearly a “sell the rallies” market, especially considering that Bitcoin can’t rally, so certainly this market won’t.

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DASH/USD

The DASH market rolled over significantly during the trading session on Wednesday, breaking through the $320 level. I think there is a certain amount of support just below, extending down to the $280 level. If we bounce from here, I believe that the $350 will continue to be a bit of a “ceiling” in the market. I think that the DASH market will continue to struggle though, as crypto currencies in general face a lot of bearish pressure as of late. The market should continue to be very noisy in general, so I would keep any position that I have very small.

XMR/USD

Monero markets rolled over as well, breaking below the $180 level. We are now in a previous consolidation area, reaching down towards the $165 level. That’s an area that has been support a couple of times before and could be a bit of a “bottom” for the market. If we break down below the $165 level, we will then probably go looking towards the $150 level.

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