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Alt coins rally on Tuesday, counter to the major crypto currencies

Christopher Lewis
Updated
Alt coins rallied a bit during the trading session on Tuesday, going counter to the major crypto currencies such as Bitcoin and Ethereum. I believe that the market will continue to be negative overall, but obviously that can turn with the overall attitude of crypto currencies in general.

Bitcoin Gold

Bitcoin Gold rallied slightly during the trading session on Tuesday, in direct defiance of what happened with Bitcoin and Ethereum. The market seems to have a bit of a “ceiling” at the $50 level, and I think that the market will continue to find a lot of Sellers above, so I think it’s only a matter time before we roll over again and look towards the $40 level underneath.

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Dash/USD

The Dash market is essentially flat for the trading session on Tuesday, as we continue to hang around the $310 level. This is a market that continues to see a lot of support underneath, perhaps extending down to the $300 level. I think that it’s only a matter of time before the market needs to make a decision, and I think it will take its cue from Bitcoin as per usual. If we do fall below the $300 level, I think we will test the lows again. Otherwise, we could grind towards $330, but I would not expect much more than one of those two small moves.

Monero

Monero markets went back and forth during the trading session on Tuesday, as we continue to dance around the $160 level. I believe there is a bit of a “floor” underneath at the $150 level. I think that the market could reach towards the $175 level, but it will take a certain amount of momentum and of course strength out of the major crypto currency markets before we see that. If we break down below the $150 level, the market probably breaks down significantly.

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This article was originally posted on FX Empire

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