Alt Coins rally significantly on Tuesday again

As Ethereum took off during the trading session, it’s sent alt coins much higher on Tuesday. Bitcoin rallied as well, and because of this it looks as if there is a lot of “hot money” coming into these coins that we follow here at FX Empire. · FX Empire

Christopher Lewis

Updated Tue, Apr 24, 2018, 10:33 PM

BTG/USD

Bitcoin Gold rallied significantly during the trading session on Tuesday, reaching towards the $88 level. We have gained almost 10% during the day, and it looks likely that we will continue to see buyers jump in on pullbacks, and I think that the $70 level underneath is now the “floor” in the market. I anticipate that the market will probably go looking towards $90 and the short-term, and then eventually the $100 level.

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DASH/USD

DASH traders have been working again to the upside for Tuesday, reaching towards the $540 level. It looks like short-term pullbacks will continue to be buying opportunities and the $500 level underneath should be supportive. I think that is the short-term “floor” in the market, but I also think that there is more than enough support extending down to the $400 level. I believe that the market should continue to go much higher over the longer term, perhaps reaching towards the $600 level longer term. I think that the market continues to be bullish as long as Ethereum and Bitcoin can do the same.

XMR/USD

Monero has rallied as well, albeit in a slower manner than some of the other alt coins that we follow here. I believe that the $275 level underneath is going to offer short-term support, and then of course the $250 level after that will be massive support. We are in an uptrend, so I don’t want to short this market, but I’m looking for short-term pullbacks to buy value when it appears.

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