DASH and Litecoin Analysis December 12, 2017

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DASH/USD

DASH continues to be very choppy, forming a bit of a “W pattern” over the weekend. Because of this, I believe that we are eventually going to break out to the upside but a move above the $800 level is necessary for momentum to build and send it much higher. In the meantime, short-term pullbacks might be opportunities to build a position, with the $600 level offering a “floor.”

LTC/USD

Litecoin took off on Monday, breaking above the $180 level, and looks likely to reach towards $200 next. However, we are getting a bit overextended, and the volume isn’t necessarily that impressive. Because of this, I would wait for pullbacks to take advantage of bullish pressure, and would be very interested in buying Litecoin near the $160 handle. I believe $200 will cause a certain amount of resistance.

Thanks for watching, I’ll be back tomorrow.