Yahoo Finance Alt coins crater on Monday
BTG/USD
Bitcoin Gold loss over 7% at the open on Monday, as both Bitcoin and Ethereum have struggled. Alt coins get crushed every time the major crypto currencies struggle. The $48 level above has been resistance, extending to the $50 level. The $50 level of course is a significant amount of psychological resistance overcome, and quite frankly I don’t think bitcoin Gold has the ability to do it anytime soon. Continue to sell rallies as they appear.
DASH/USD
The Dash markets broke down a bit as well, slicing through the $320 level, and could be reaching down to the $300 level after that from what I can tell. I think there is significant support in that area, but most certainly at this point in time it looks as if this market is to be sold every time at rallies, as seems to be a continuing theme in the crypto currency markets in general. I would not be impressed of a rally in this market until it clears the $350 level. If we can do that, then I think the market could go to the $400 level after that.
XMR/USD
The Monero markets have broken down during the day on Monday as well, losing roughly 5% as I record this market. The $175 level offered far too much in the way of resistance over the course of the weekend, so it makes sense that the institutional sellers have come in and punish this market. The $150 level underneath should offer a significant amount of support, and perhaps a “floor” in the market, but at this point I would not be surprised if we break down below there.
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BTG/USD DASH USD and XMR USD Video 05.06.18
This article was originally posted on FX Empire
