Alt coins drift slightly lower on Monday

Updated : May 22, 2018, 04:35 UTC•1min read

Bitcoin 1

Alt coin markets drifted a little bit lower during the day on Monday, as the major crypto currencies have also struggled to find a bit of footing. Not necessarily a major move lower, but certainly more weakness has been shown.

BTG/USD

Bitcoin Gold fell a bit during the trading session on Monday, reaching down towards the $54 level. We have bounced slightly from there, but I believe that there is still plenty of resistance above, especially near the $60 level. Because of this, I am very hesitant to buy this market, so I am essentially waiting for some type of exhaustive candle to take advantage of and start shorting. Ultimately, this is a market that I think will continue to show an interest to reach towards the $50 level.

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DASH/USD

DASH initially tried to rally during the day on Monday but found enough resistance of the $410 level to turn around and fall below the $400 level as well. I believe that there is a significant amount of support near the $380 level, but ultimately this is a market that I think needs to grind a bit before we can put serious money to work. I suspect that we will get a back-and-forth type of sideways market in the meantime. I believe that the stochastic oscillator might be one of the better indicators the use to determine when to buy and sell between these various levels.

XMR/USD

Monero fell during the day on Monday, breaking below the $200 level before reaching down to the $190 level. If we break down below there, the market will more than likely reach towards the $188 level next. This is a market that is failing at previous support, showing signs of resistance. Ultimately, if we can break above the $208 level, then the market could go to $216 after that.

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