Bitcoin Gold rallied significantly during the trading session on Monday, breaking well above the $70 level. We even came close to the $80 level before pulling back a bit. We have seen support come back in at roughly $73, so I think that the buyers are trying to make a stand and that the $70 level should be essentially the “floor” of the market, as it was so resistive in the past. I believe that $80 will be the next area that buyers try to take out.
DASH broke above the $500 level initially during the trading session on Monday, reaching as high as the $525 region. We pull back from there to reach towards the $500 level underneath, which was previous resistance. And now looks as if the buyers are coming back to take out the resistance above, and I think that we will continue to see buyers on dips after it’s been so bullish in the short term, and I think that the value hunters will continue to jump into this market. Ethereum and Bitcoin both have stabilized, and it’s likely that we will continue to see bullish pressure in the alt coins community if that remains the case.
The Monero market rallied a bit during the day, in a slow and general grind higher. I think that the market is going to go looking towards the $300 level, an area that has a certain amount of psychological significance built in. I think that the market will continue to find buyers on dips, as Monero will follow the other alt coins.