DASH and Litecoin Analysis January 4, 2018

DASH/USD

DASH has been slightly negative during the trading session on Wednesday, but at this point I think we are testing the top of a downtrend in channel. If we can break above the top of the channel, and more importantly the $1200 level, then the market will go much higher. I think eventually we will target the $1500 level. If we break down below the $1050 level, the market will probably continue to go lower.

LTC/USD

Litecoin has been a bit sideways during the trading session as there is no volume. The lack of volume continues to play the market, and although we have been bullish of the last couple of sessions, the $260 level offering resistance. That was previous support, so it makes sense that the sellers may return. I think Litecoin may roll over a bit from here, but I think that the $200 level is a hard floor. Otherwise, if we break above the $260 level, the market probably goes to the $300 level.

Thanks for watching, I’ll see you again tomorrow.