Bitcoin Gold did very little during the day on Tuesday, as volume was nonexistent. Having said that, I think that the markets will continue to find the $300 level as minor resistance, but if we can break above there it is a good sign for Bitcoin Gold, and it should send this market towards the $400 level. Ultimately, the $200 level underneath should continue to be supportive, and a breakdown below there should be a sign to start selling. This is a market that will lack of volume of the next several sessions, so I would not be surprised at all to see Bitcoin Gold staying within the consolidation.
DASH did almost nothing during the day on Tuesday, as we continue to see resistance at the $1200 level. I see the uptrend line underneath offering support as well, especially closer to the $1000 handle. It continues to be one of the better performing currencies, but we have run out of momentum as of late. The thing that concerns me is that the most of volume we have seen recently was during a massive selloff before the holiday. The question is what happens next, once traders come back from holiday break? If we break down below the $1000 level, that would be a very negative sign. Alternately, if we can break above the $1200 level, that would be a very bullish sign and could send this market towards the $1500 level again.
Monero rose slightly during the day on Tuesday, but with a lack of volume I don’t read too much into this move. The most important thing as the uptrend line that I have on the chart, which of course we are above. If we can break above the $375 level, I think that the $400 level above would be the initial target, and a break above the $400 level would be a very bullish sign as well. I think if we can break above the $400 level that we could go to the $475 level. I think that the markets will continue to be positive in general, but if we do break down, it could be rather brutal and quick as we have seen recently. Monero has behaved much more stable than many of the other crypto currencies I follow, so I have more faith in the rally if it happens.