Alt Coins rally during Friday session
BTG/USD
Bitcoin Gold rallied significantly during the trading session on Friday, gaining over 6% and clearing the $63 level. However, we are bit overextended, so we could get a bit of a pullback. That pullback should be a buying opportunity, somewhere near the $60 level. I think that the market is starting to break out to the oversight, so given enough time I think that the buyers will continue to look for value at lower levels and short-term bounces. I suspect that longer-term we will probably go looking towards the $100 level, but that’s obviously a long-term call.
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DASH/USD
The DASH market has rallied a bit during the session on Friday as well, in a nice and gentle uptrend. This is probably more sustainable than Bitcoin Gold, as the 20 SMA on the hourly chart has acted quite reliably for buyers. The $400 level underneath is the “floor” in the market, and I suspect that we will not breakdown below there. Ultimately, if we can reach towards the $450 level above, there could be a bit of resistance there as well, but we should continue to go higher than that level. Ultimately, I believe that the DASH market is forming a nice uptrend.
XMR/USD
Monero markets went sideways during the trading session on Friday initially before rallying again. We had cleared the $250 level to show signs of life again. Ultimately, the market should then go to the $300 level. I look at dips as buying opportunities in the alt coins now that both Bitcoin and Ethereum are starting to show signs of life again.
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