11 Jan DASH and Litecoin Analysis January 12, 2018
Dash went sideways during the trading session on Thursday, essentially hovering the $1000 level. That’s an area that has offered a bit of support in the past, and now that the stochastic oscillator is starting to cross on the 4-hour chart, I suspect we may get a bounce towards the $1100 level. That’s an area that is essentially “fair value” in the current scheme of things, but if we break down below the $950 level, the market could unwind.
Litecoin has done nothing over the last couple of days beyond drift lower, and on Thursday it was the same story. We are starting to see a little bit of support near the $220 level though, so that’s a good sign. I think that a bounce from here should send this market looking to the $250 level, possibly even the $300 level over the next couple of weeks. The overall attitude of this market seems to be range bound sideways scalping. I believe more of the same is ahead.
Thanks for watching, I’ll see you on Monday.