Alt Coins rally during Thursday session as majors do the same

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Bitcoin struggled through the early part of the day, while the rest of the majors resumed their bullish runs, Bitcoin likely to be playing catch up as the day progresses. · FX Empire

Christopher Lewis

Updated Thu, Apr 12, 2018, 11:00 PM

BTG/USD

Bitcoin Gold rallied significantly during the trading session on Thursday, gaining 4% as I record this. The market struggle at the $45 level, and I think that resistance barrier extends to the $48 level. A break above the $48 level would confirm that we are trying to change the trend and should go higher. In the meantime, I think short-term pullbacks might offer a bit of a buying opportunity for those who are short-term inclined.

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DASH/USD

DASH also rally during the trading session, following Bitcoin and Ethereum much higher. It slammed into the $350 level, an area that has been structurally resistive in the past. I think that short-term pullbacks will probably offer buying opportunities, but if we can break above the $360 level we should be clear to reach towards the $400 level above which is the next major barrier. The $300 level underneath should be a bit of a “floor” in the market, and I think that the market looks likely to continue to try to build a basing pattern. Once we break out, the move could be rather quick. However, it may take several attempts to finally make that move.

XMR/USD

Monero markets have gone back and forth during the trading session on Thursday, but then finally exploded towards the $200 level. That’s an area that is going to be resistive, so the fact that we gave back some of the gains makes sense. I believe that these pullbacks should be buying opportunities, just as a break above the $200 level would be.

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