Alt Coins daily chart, May 10, 2018

Alt coins choppy and mixed on Wednesday


Bitcoin Gold initially fell during the session on Wednesday, reaching down to the $66 level to find support and reach back towards the $70 level. We have broken through what has been significant support, so now that we have bounce from here and tested that area, I suspect that we are more likely to fall than anything else, but if we were to break above the $72 level, that would show enough bullish pressure to perhaps make a move to $75, and then perhaps the $80 level after that.

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The DASH/USD market has broken down rather significantly to start the day on Wednesday, but then bounced from the $410 level to reach towards the $440 level. There is a lot of noise above there and extending to the $450 level. I think that the market should continue to respect the $450 level in general, as it was an area that was very supportive, and it should be resistive over the longer term. I think that if we break above the $465 level, then the market should go much higher. Otherwise, I think we are getting ready to roll over and go down towards the $400 level again. Pay attention to Bitcoin and Ethereum, as they will have a major influence on alt coins in general.


Monero markets pulled back to the $216 level before exploding to the upside, reaching towards the $235 level. There is enough resistance near that region to keep the market somewhat contained. I think if we break down from here, the market is likely to reach towards the $220 level again, but right now I think Monero will follow the rest of these markets more than anything else.

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