Alt Coins Weekly Price Forecast – more softness in the alt coin markets

Updated : Jun 16, 2018, 07:20 UTC•1min read

Golden Bitcoin Coin and mound of gold

The alt coins that we follow here at FX Empire have struggled during the week as both Bitcoin and Ethereum have as well. Because of this, it makes sense that these markets have been a bit difficult to lift at these low levels.

BTG/USD

Bitcoin Gold fell during the week, as we continue to see softness in this market. We have broken solidly below the $40 level and see this market as being one of the more toxic of the crypto currencies. At this point, I think that the $50 level is going to be a bit of a “ceiling” in this market, and I think that the $25 level could very well be the next target. I think that given enough time, Bitcoin Gold is going to fall to extraordinarily low levels.

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DASH/USD

DASH markets went back and forth during the week, showing signs of stagnation near the $250 level. I think that the market is going to continue to go lower over the longer-term, perhaps reaching down to the $200 level underneath. This market is very sick at the moment, but the $200 level seems to be a massive level going back to the beginning of the chart, so therefore it’s likely that we will see some type of market memory bounce in that area. If we can turn around and break above the $300 level, that could send this market to the $400 level though.

XMR/USD

Monero continues to fall, but this week found enough support at the $100 level to turn around and form a hammer. It is because of this that we may get a short-term bounce, but I look at that bounce as a nice selling opportunity, at least until we were to break above the $200 level. If we break down below the bottom of the hammer, that would be very negative indeed.

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