DASH/USD and LTC/USD Technical Analysis May 04, 2017

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Hello and welcome to News BTC’s Market Outlook May 04.

DASH/USD

DASH markets continue to grind sideways overall as we tighten the trading range. It looks as if we will consolidate for a little bit, and then make a decision. I believe that given enough time, the market will rally but I also recognize that there are a lot of buyers and sellers in this general vicinity. It looks as if we are trying to form some type of symmetrical triangle, so that means that an explosive moved should be coming. However, we don’t have it yet, so it’s almost impossible to trade currently.

LTC/USD

LiteCoin rallied again during the session on Wednesday, breaking above the $18 level handily. It looks now as if short-term pullbacks will offer buying opportunities and we can take and aim for the $20 handle. There should be a significant amount of support all the way down to at least the $15 level, so it’s almost impossible to sell. Given enough time, we will reach the $20 level but there could be a bit of psychological resistance there, offering even more buying opportunities on dips.

Thank you for watching and see you again tomorrow.