Hello and welcome to News BTC’s Market Outlook June 13.[embedded content]
DASH had a volatile session on Monday, as we reached towards the $200 level again, but quite frankly we continue to see a significant amount of resistance in that area. Crypto currencies in general are looking a bit overbought and very much like they are in a bubble currently, although DASH seems to be less so than many of the others. I believe that the $150 level below is the “floor” in the market, and that $200 above will continue to keep gains down.
LiteCoin fell significantly during the session on Monday, reaching all the way down to the $22 level, an area that has been very supportive in the past. We bounce significantly from there, but the $34 level continues to offer resistance. Pullbacks could be buying opportunities, as the market is very bullish but now it seems like many of the other currencies that are produced digitally are a bit overbought. Because of this, volatility should continue to be wild.
Thanks for watching and see you again 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.