Dash Down 3%, Ether Still in Range

FXOpen

Dash is down by 3 percent since last Thursday. Ether on the other hand is up but by only 1%, from 0.07772 to 0.07854 BTC.

Ether Still in Range

The low volatility across the crypto markets continues. Ether is up by only 1 percent compared to one week ago. Consequently no trends have been established on the daily chart. For that to happen price has to breakout outside of the rectangle on the chart below.

ethbtcdaily-june21-copy

A move above the 0.08061 BTC swing high could start a new rally. Higher up there’s resistance at 0.08542 BTC followed by the 0.08829 swing high. Higher still we have the 0.09 and 0.1 BTC round figures as potential resistance levels. A decisive breakout above here may open to door to this year’s high at 0.121 BTC.

On the lower end we need a breakdown below 0.07 BTC to start a new bearish trend on the daily charts. Support below here can be found at 0.06606 BTC followed by the former swing high at 0.05906 BTC. On the weekly charts ETH/BTC is also range-bound. The monthly charts are still keeping the bullish bias.

Dash Down 3 Percent

Unlike ETH/BTC, Dash is trading lower this week. Yesterday we hit a new 2018 low at 0.03782 BTC but prices quickly bounced back. We are quoted at 0.03897 BTC at the moment, down from 0.04039 BTC last Thursday or – 3.6% in percentage terms.

dshbtcdaily-june21-copy

The downtrend for DSH/BTC is still in play. A breakout above 0.04169 BTC is needed to end it. A move beyond 0.04325 BTC could start a new rally. On the lower end there’s weak support at 0.03782 BTC followed by 0.03557 BTC and 0.03452 BTC. The latter level is also a 14-month low for Dash. A breakdown below it could exacerbate the losses. On the longer-term charts Dash is bearish on the weeklies but bullish on the monthly charts.

Bitcoin Little Changed

Similarly to the two altcoins above, BTC/USD is trading little changed since our last update on Tuesday. We are quoted at $6,729 dollars right now, up by $29 or 0.4 percent.

A decisive breakout above $7,046 dollars could end the current downtrend. A move beyond $7,775 dollars is needed to restart the rally in prices.

FXOpen offers the world's most popular cryptocurrency CFDs*, including Bitcoin and Ethereum. Floating spreads, 1:2 leverage, 30% margin call, 0.01 lot minimum transaction size with no maximum — at your service. Open your trading account now or learn more about crypto CFD trading with FXOpen.

*At FXOpen UK and FXOpen AU, Cryptocurrency CFDs are only available for trading by those clients categorised as Professional clients under FCA Rules and Professional clients under ASIC Rules respectively. They are not available for trading by Retail clients.

This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice.

Latest from Cryptocurrencies

Cryptocurrency Prices Rise on SEC Rumours Market Analysis: Bitcoin Sets September High BTC/USD Analysis: Bulls Lose Progress Amid SEC Defeat Bitcoin Trading Volumes Fell to a Minimum of 4 Years BTC/USD Price Analysis: RSI Drops to Lowest Since March 2020

Latest articles

Forex Analysis

Market Analysis: US Dollar On the Rise Despite Weak PMI Data

EUR/USDThe euro fell against the US dollar on Friday as economic data showed a contraction in economic activity, which could prompt European Central Bank hawks to soften their policy stance. Preliminary data indicates a contraction in economic activity in

Financial Market News

Economic calendar: NASDAQ 100 May Keep Falling, High Volatility in Oil Markets, Potential Appreciation of the US Dollar

The US, Japan and the UK may have kept interest rates on hold last week, but with the Federal Reserve indicating that rates will stay higher for longer, there is turmoil in the equity markets. The NASDAQ 100 fell 500

Financial Market News
Indices

Financial Markets Waking Up after a Turbulent Week: Important News

The main event of last week was information from the Fed. Jerome Powell once again demonstrated his determination to maintain a tough political stance, which caused: → increase in bond yields. Yields on 10-year securities reached their highest since 2009; → the

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 60% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.