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News BTC DASH and LiteCoin Analysis May 1 2017

By News BTC May 1, 2017 5:45 AM EDT

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 DASH/USD

DASH fell significantly during the session on Friday as we had found far too much in the way of resistance near the $82 level. By falling as fast as we did, we took out all of the gains from the previous session. However, there is a significant amount of support at the $72 level, so it’s likely that we will turn around and bounce from here. Nonetheless, you have to be able to handle an extreme amount of volatility to take this position.

LTC/USD

LiteCoin fell initially during the Friday session but found the $15 level to be supportive. By doing so, we turned around to form a hammer and it looks as if the market is ready to try and reach towards the $17 level again. If we can break above there, with any type of significance, the market is free to go much higher. I have no interest in selling this market, and believe the dips continue to represent value.

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.


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