Hello and welcome to News BTC’s Market Outlook October 12.
DASH/USD
DASH continues to chop around the $290 level on Wednesday, as we look to build some type of base in this area. If we can break above the $300 level, then the buyers will jump in and continue to push much higher. In the meantime, I think dips to offer buying opportunities, but quite frankly I believe that this market could be best traded by those looking for longer-term investments rather than short-term gains.
LTC/USD
Litecoin went sideways during the session on Wednesday, as we continue to hang about the $50 level. I think that the market will eventually go higher, and that this is a sign that the market is trying to form some type of base. Ultimately, if we can break above the $51.50 level, the market could go towards the $55 level next. The market breaking below the $49.50 level would be a very negative sign, reaching down towards the $48 level underneath. Ultimately, this is a market that I think goes higher, but we need to build up the necessary momentum to go to the upside.
Thank you for watching, be back tomorrow.
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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