Hello and welcome to News BTC’s Market Outlook May 12.
DASH/USD
DASH is currently consolidating, as we continue to find the $90 level to be supportive. As the market stabilizes, I believe that the buyers will push towards the $103 level above. Short-term dips offer value in building a position in this region is certainly a viable option when it comes to trading. I have no interest in selling, as there seems to be quite a bit of support extending much lower.
LTC/USD
LiteCoin continues to look bullish, even though we fell significantly during the day. The $28 level offered enough support to turn things around and show just how resilient the buyers are trying to be. These pullbacks represent value in a cryptocurrency that continues to strengthen longer term. Taking small positions on the way up is probably the best way to deal with the volatility that we have seen recently. Certainly, though, selling is all but impossible.
Thanks for watching and see you again tomorrow.