- The technical levels are still intact with the bulls targeting $14.00 and $15.00 hurdles.
- BTG/USD to stay above the support at $13.00 and possibly correct towards $14.00.
The crypto market is generally in the red apart from a few assets like Bitcoin Gold (BTG) and Litecoin (LTC). Bitcoin Gold is seen changing hands at $13.16. The digital asset has added 4% to its value amid the bear pressure on the market.
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The low trading activity comes after most of the cryptos corrected from the declines on Monday. However, the gains on Tuesday were not enough to stage a significant recovery above the critical resistance levels. Bitcoin Gold, for example, corrected from last week’s low at $11.62, re-entered the ascending channel but failed to overcome the resistance at $13.00.
Bitcoin Gold was stuck in a sideways trend above the channel support until the breakout today that has seen it add more than 4%. The technical levels are still intact with the bulls targeting $14.00 and $15.00 hurdles. The Relative Strength Index (RSI) still in the oversold while the MACD is at +2335; the same it was on March 5 and February 23. Expect BTG/USD to stay above the support at $13.00 and possibly correct towards $14.00. However, the most likely movement is to remain sideways in the range between $13.00 and $14.00.