Yahoo Finance Alt coins fall drastically on Friday
BTG/USD
Bitcoin Gold broke down massively on Friday, falling 15% as we are reaching towards the $50 level now. I think that if we rally from here, it’s likely that signs of exhaustion will be jumped on as well. I believe that the market won’t be able to pick things up, and the market should continue to be very negative overall, and I believe that Bitcoin Gold is probably going to unwind to the $40 level underneath, which was the major support level that caused the recent rally.
DASH/USD
The DASH/USD pair broke down below the $400 level during the session on Friday, as it looks likely that we will go down to the $350 level. I think that the $420 level above is offering a significant resistance barrier. I think that every time we rally, it will be a selling opportunity on signs of exhaustion. I think that the $350 level will offer a bit of support as it has in the past, but quite frankly this market breaks down rather rapidly, and that of course is a very negative sign in general. If the US dollar continues to strengthen longer-term, that could spell disaster for the DASH currency. Currently, it looks very difficult to buy this market in general.
XMR/USD
Monero broke down below the $200 level during the session on Friday, as we continue to fall apart. I believe that the market continues to show signs of bearish pressure every time we rally and exhaust ourselves, and I think that will continue to be the best way to trade this market, selling rallies.
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This article was originally posted on FX Empire
