DASH/USD and LTC/USD Technical Analysis November 16 2017

Avatar newsbtc 2 years ago

Hello and welcome to News BTC’s Market Outlook November.


DASH continues to chop around, as Wednesday was more of the same action. However, looks as if we are trying to form some type of asymmetrical triangle on the 4-hour chart, and with the recent search higher I would have to believe that we will more than likely have buyers trying to break out to the upside. A clearance of the $460 level should send this market looking for $500 above.


Litecoin continues to rally, but we are running into a bit of trouble near the $66 level. The $68 level above will be a massive resistance barrier, so I think that we could see several short-term pullbacks to build up the necessary momentum to break out to the upside. It does help that the US dollar is under pressure in the Forex world right now, so that might be the catalyst to finally break out and continue the long run higher. Otherwise, think of the floor as $58.

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