DASH/USD
DASH broke out during the session on Wednesday, and Thursday was more of the same. We have reached towards the $340 level, and then pulled back slightly. I believe in buying these dips, and I also recognize that we are now exiting a reasonably strong consolidation area with upward momentum. I believe that adding on dips will be the way to go over the next several sessions, as DASH should continue to work its way towards the $350.
LTC/USD
Litecoin has also rally during the day after initially dipping down to the $56 level. However, on the 4-hour chart we had formed a hammer, suggesting that the support is most certainly still there, and has been confirmed. I believe that Litecoin continues to be a “buy on the dips” scenario, and that we should continue to go much higher, with the next major resistance level showing itself at the $70 handle.
Thanks for watching, I’ll be back Monday.
Disclaimer: The information contained herein is not guaranteed, does not purport to be comprehensive and is strictly for information purposes only. It should not be regarded as investment/trading advice. All the information is believed to come from reliable sources. NewsBTC does not warrant the accuracy, correctness, or completeness of information in its analysis and therefore will not be liable for any loss incurred.