Bitcoin Gold aims at a unique ecosystem, which seems unlikely to exist in the current setup of economy and blockchain. Today, blockchains are not meant much without the underlying valuation in terms of fiat currencies, which is the very aspect BTG intends to transform.
The price action on this counter is a strong one, even with lower volumes. While fundamentals might not be a great aspect of Bitcoin Gold for the times we live in, the technicals are quite strong.
Bitcoin Gold Price Analysis
Bitcoin Gold is moving upwards with strong price action, lower volatility, and consistent up move. Buying at current levels will enable one to live through the higher expected price movement.
Bitcoin Gold is trading with an overbought RSI level, indicating positive buying sentiment in the daily time frame. From a low of $32 to the current level of $76, BTG has delivered over 100 % returns in a short interval.
With a lesser possibility of profit booking, we can expect BTG to trend in the current scenario as per our BTG price prediction. It has strong support at the $32 level. Another strong support is the 200 DMA level of $59, which is close to the swing lows of June.
From a trend line perspective, BTG is in a good position, one that can be considered a buying opportunity.