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Bitcoin Gold DASH and Monero Price Forecast January 2, 2018, Technical Analysis

Christopher Lewis
Updated

Bitcoin Gold

The Bitcoin Gold market has rallied just over 6% during the trading session on Friday, but we continue to see volatility more than anything else. I think with the low trading volume, it makes sense that the market will continue to be choppy and difficult to handle in large portions. I think that we are currently looking at support at the $230 level underneath, and resistance at the $300 level above. In general, I believe that the market continues to be range bound over the next several sessions.

BTG/USD DASH USD and XMR USD Video 02.01.18

BTG/USD daily chart, January 02, 2018
BTG/USD daily chart, January 02, 2018

DASH

DASH continues to chop around as well, reaching towards the $1150 level before rolling over. That looks like a move back towards the $100 level underneath. The market has been very choppy and back and forth, but having said that it’s likely that the market should continue to offer trading opportunities that you can use the stochastic oscillator for, or perhaps some other type or range bound system. If we break above the $1200 level, that should send the market much higher. On the other hand, if we break down below the $1000 level, it’s likely that the market will reach much lower, perhaps towards the $800 handle.

DASH/USD daily chart, January 02, 2018
DASH/USD daily chart, January 02, 2018

Monero

Monero markets rallied initially during the day as well, but struggled at the $370 level. By finding trouble at that level, we have rolled over slightly, and it’s likely that we could reach towards the $300 level underneath, as it coincides with a nice uptrend line. I think that the market is probably going to drift a little bit lower from here, but only find buyers underneath in general.

Monero/USD daily Chart, January 02, 2018
Monero/USD daily Chart, January 02, 2018

This article was originally posted on FX Empire

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