Technical

DASH and Litecoin Analysis January 17, 2018

newsbtc | January 16, 2018 | 2:18 pm
dashusd
Technical

DASH and Litecoin Analysis January 17, 2018

newsbtc | January 16, 2018 | 2:18 pm

DASH/USD

DASH continues to be a bit of a grinder, dropping down towards the $800 level. The volume has been picking up, but on the 4-hour chart we had formed a massive hammer. The hammer is a positive sign, but we must break above that candle to start buying, meaning we need to clear the $850 level. Quite frankly, it’s probably a better idea to let the markets stabilize for 24 hours before putting money to work.

 

LTC/USD

Litecoin markets have rolled over again, reaching down below the $200 level. I see a significant amount of support at the $175 level though, and therefore I think that the buyers will probably return eventually. In a bounce in this area will probably go looking towards the $250 level above. If we break down below the $175 level, the next support level is at $150.

Thanks for watching, I’ll be back tomorrow.

   

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