Technical

DASH and Litecoin Analysis January 12, 2018

Christopher Lewis | January 11, 2018 | 1:52 pm
dashusd
Technical

DASH and Litecoin Analysis January 12, 2018

Christopher Lewis | January 11, 2018 | 1:52 pm

Dash/USD

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.

 

LTC/USD

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.

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