Alt Coins Price Forecast – mixed bag for Thursday session

Bitcoin has another positive start to the day, though holding on to key levels through the morning will be needed to avoid a reversal later in the day. · FX Empire

Christopher Lewis

Updated Thu, Jun 14, 2018, 11:21 PM

BTG/USD

Bitcoin Gold when sideways initially during the trading session on Thursday, reaching towards the 50 SMA. I think that the market acting the way it has towards that SMA is very interesting as the Bitcoin and the Ethereum markets both have done the same thing. I think that the market should continue to reach towards and $30 level, and perhaps even lower. Rallies at this point are not trusted until we can break above the $38 level as bitcoin Gold continues to underperform any other currencies.

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DASH/USD

The DASH/USD pair has gone sideways initially during the trading session on Thursday but gave back quite a bit of the gains. It continues to hug the 50 SMA as well, so I think that we will continue to grind downwards with this moving average, perhaps reaching down to the $240 level, and that eventually the $225 level. If we were to break above the $280 level, then we could rally from there, and continue to try to recover. Right now though, it looks rather soft.

XMR/USD

The Monero markets went back and forth during the trading session on Thursday, initially rallying towards the $135 level before falling over and reaching back towards the $125 level. We have crossed the 50 SMA on this chart though, so it’s possible that Monero may try to make a bit of a rally. However, I would not be a buyer until we break above the $140 level. If we break down below the 50 SMA again, then I think the $115 level will be targeted.

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