Alt Coins struggle during slightly negative Friday session

Alt coins struggled a bit during the trading session on Friday, as the noise continues to be a major situation. I think that the market continues to find buyers underneath, based upon the supportive levels. However, it’s not to be easy for buyers to take advantage of this support. · FX Empire

Christopher Lewis

Updated Fri, Apr 27, 2018, 11:15 PM

BTG/USD

Bitcoin Gold went sideways during the day, and a slightly negative manner, as we drifted lower in the end. It looks as if the uptrend line underneath is going to continue to support this market, just as the $70 level underneath should be also. I think that every time we pull back, the buyers will probably jump into this market and try to push it towards the $80 handle. However, if we break down below the $70 level, the market unwinds to $60 rather quickly. For what it’s worth, the weekly candle is a shooting star and that is a negative sign, so a breakdown is certainly possible.

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DASH/USD

Dash went sideways during the trading session on Friday, as we continue to see $500 offer a significant amount of resistance. I think that if we break down below the $480 level though, that probably has this market unwinding. We formed a perfect shooting star on the weekly chart, so I suspect that Dash is going to roll over from here and perhaps reach down to the $450 level underneath. Ultimately, this is a market that should continue to be very noisy.

XMR/USD

Monero spent most of the day during the session on Friday drifting lower, perhaps reaching down to the $250 level after that. That’s an area that offers significant support, so if we were to break down below the $250 level, I think Monero could unwind rather nastily. It’s not until we break above the $275 level that I’m comfortable buying.

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