Alt Coins drift sideways during Monday session

Alt coins struggled for direction during the trading session on Monday as Bitcoin and Ethereum both were relatively quiet. When the major crypto currencies are quiet, most of these currencies will be as well as they are not as liquid, quite often when they start moving, these markets take off. With the relatively quiet range that we are in, a lot of traders are looking for direction. · FX Empire

Christopher Lewis

Updated Mon, Apr 30, 2018, 10:24 PM

BTG/USD

Bitcoin Gold fell initially during Monday’s trading, but found support at the $72.50 level. By doing so, we have lost 4% as I record this and have broken down below an hourly trend line, but at the end of the day there should be plenty of support at $70 as well. This is a market that looks like it could bounce around between $70 on the bottom, and $80 on the top.

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DASH/USD

The DASH market fell initially during the session on Monday but found enough support at the $470 level again to bounce. It looks at this point that we are trying to get a bit more clarity as to where we will go, and if we can break above the $510 level, the market is likely to continue going towards the $550 level. Otherwise, markets could break down below the $470 level, unwinding to the $450 level.

XMR/USD

Monero fell the hardest out of the 3 crypto currencies in the video, as per usual. For the early part of the session, we reached as low as $235, before finding buyers. The $260 level above should be resistance, so I think it’s going to take a lot of momentum building to break above there. In the meantime, if we were to break down below the $235 level, the market will probably unwind towards the $225 level next.

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