Alt Coins daily chart, May 11, 2018

Alt coins continue to bounce around on Thursday


Bitcoin Gold drifted a bit lower during the trading session on Thursday, looking to build up enough momentum to reach towards the $70 level. If we can break above the $71 level, then I think that the market could continue the rally. So far, it looks as if the latest low is higher than the one before, so that is of course a good sign. Bitcoin and Ethereum both rallied slightly, so that should put upward pressure in this market, but it has not translated into much momentum quite yet, and we probably need to see the major coins rally significantly before momentum picks up here.

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Dash markets rallied on Thursday, but then pulled back from the $460 level to reach towards $450 below, and then bounced again to reach higher. I think that we are trying to build up enough momentum to finally break above the $470 level, which opens the door to much higher pricing, with the obvious target of $500 being the focus. I think that short-term pullback should continue to see the support down to the $440 level, and therefore I think that buying on the dips still works quite well for this market.


Monero rallied quite nicely during the day, reaching towards the $233 level. I think the $236 level above is still resistance, so we will probably continue to pull back to build the necessary momentum to break out to the upside. However, keep in mind that this market tends to be very erratic.

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BTG/USD DASH USD and XMR USD Video 11.05.18