Yahoo Finance Alt Coins Price forecast for the week of February 12, 2018, Technical Analysis
Bitcoin Gold
Bitcoin Gold markets initially sold off during the week, reaching down to the $75 region. We have rallied a bit since then though, raking above the $100 level, and formed a hammer on the weekly chart. Because of this, it’s very likely that we will continue to see buyers jump into this market. I anticipate that a move above the top of the hammer should send this market towards the $150 level, and then eventually the $200 level. If we were to break down below the bottom of the weekly hammer, this market will implode.
Dash/USD
Dash traders sold off during the week as well, breaking below the $400 level at one point. The market bounce significantly from there, so as you can see we have turned around to form a hammer. If we can break above the top of the hammer, the market should then go to the $800 level, and then possibly the $1000 level. I would anticipate that we will probably grind higher and not necessarily explode, because I think most retail traders are going to be skittish.
Monero
Monero markets fell significantly down to the $150 level, and then bounced enough to form a massive weekly hammer. As the Ethereum and Bitcoin markets did the same, it looks as if the crypto currency market is all starting to move in lockstep again. If we can break above the top of the hammer, the market probably goes to the $280 level, and then eventually $320. I think that we need to grind to build momentum though, so at this point it’s going to be very difficult for a lot of retail traders to deal with what I think is going to be a bounce around with an upward attitude.
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This article was originally posted on FX Empire
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