Hello and welcome to News BTC’s Market Outlook May 26.
DASH/USD
DASH continues to bullish overall, but had a negative session during the day on Thursday. Ultimately, we are in an uptrend but we are a little bit overbought currently. Looking for some type of support of bounce is probably the best way to go in this market. Short-term pullbacks should offer value the traders continue to take advantage of but we have come so far in such a short amount of time that a little bit of profit-taking makes quite a bit of sense.
LTC/USD
LiteCoin continues to look bullish overall, but also pulled back during the day, testing the $30 level. That area is acting as support as expected, it now should be an area where buyers step back into the market. The highs of course will be targeted near the $40 handle, and I believe that there is more than enough support extending all the way to the $24 level to keep this market very bullish over the longer term.
Thanks for watching and see you again tomorrow.