NEWSBTC: DASH and Litecoin consolidate
DASH/USD
DASH traders continue to find support near the $580 region, as we are bouncing around the $600 level. Currently, it looks as if the alt coins space is trying to make it stand, but the momentum, and perhaps even more importantly the volume, seems to be lacking. At this point, it seems as if we are content to consolidate, perhaps trying to build up enough confidence to finally move back towards the $800 level. The alternate scenario is a breakdown to the $500 level.
LTC/USD
Litecoin gained a few percent as the $200 level offered enough support to cause a bit of a bounce during Thursday trading, as well as the 20 SMA on the Bollinger Bands indicator. Volume is still anemic though, so it’s not until we break above the $230 level that I feel it’s safe to start buying. Otherwise, I would anticipate a bit of consolidation around the $200 level as we try to confirm a significant support region.
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