DASH/USD and LTC/USD Technical Analysis October 31 2017


DASH/USD

DASH continues to be very choppy, as we find the $300 level to be resistance. On the 4-hour chart, it’s clear that the last couple of weeks have seen sellers in that region, but the most recent low was a bit higher than the previous one, gaining about $10. Because of this, I believe that the momentum is shifting to the upside again, and that it’s only a matter of time before DASH breaks out. Move above the $305 level would have me going long. In the meantime, expect a lot of back and forth and if you are a longer-term type of investor, it may be an opportunity to start building a position.

LTC/USD

Litecoin continues to struggle near the $58 level. However, I think there is enough support below and a potential uptrend line could come into play relatively soon. I think that eventually we will go looking towards the $60 level, followed by $62, and then $66. If we were to break down below the $52 level, there is a massive amount of order flow near the $50 handle, putting a bit of a “floor” in the market.

Thanks for watching, I’ll be back tomorrow.

Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.

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