Ether, Dash Surge Higher


Both Ether and Dash surged higher as a bullish sentiment from bitcoin spread all over the crypto market. The two altcoins are trading substantially higher compared to one week ago, with ETH up by 15% vs BTC while Dash is up by 18 percent.

Ether Ends Downtrend, Surges Higher

The downtrend for ETH/BTC on the daily charts is finally over as prices bust through the 0.06030 BTC swing high. Earlier today a high of 0.07080 was hit, over 35% recovery from the 0.05240 BTC lows.


We are currently in an uptrend. Higher up there’s weak resistance at 0.07080 BTC followed by a stronger level at 0.07170 BTC. More resistance above can be found at the 0.07614 BTC former low and the 0.08 round figure. The bears need a break below the 0.05240 BTC lows to end the rally. A move below here would also re-start the downtrend. A decisive clearing of the 0.05 BTC round figure would exacerbate the losses. On the longer-term weekly charts ETH/BTC is still range-bound. The monthly is keeping the bullish bias.

Dash Follow BTC Higher

Similarly to almost all altcoins, DSH followed big brother higher. Earlier today a high of 0.05297 BTC was hit, a gain of almost 30 percent from this month’s lows.


We are currently in rally mode on the dailies with prices quoted slightly below the highs at 0.05181 BTC. We have weak resistance higher up at 0.05297 BTC followed by the 0.05513 BTC spike low and the 0.056 BTC swing high. A decisive breakout above here could lead to more gains.

Below there’s some support around the 0.05 BTC round figure. However judging by how easy we broke this level to the upside it may not provide much protection during a downswing. A breakdown below this year’s low at 0.04077 BTC would both end the rally and start a new downtrend. On the longer-term weekly charts DSH/BTC is range-bound while the monthly chart is still in an uptrend.

More Gains for Bitcoin

Bitcoin continues to make gains and is now trading at $8,849 dollars. As noted in our previous article, with the breakout above $8,425 dollars the range is over and we’re back in a tentative bull market on the daily charts. The bears need a break of the $6,750 level to end the rally. Similarly to both ETH/BTC and DSH/BTC, bitcoin is range-bound on the weekly charts but bullish on the monthlies.

FXOpen offers the world's most popular cryptocurrency CFDs*, including Bitcoin and Ethereum. Floating spreads, 1:2 leverage — 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

Ethereum Price Falls after Exceeding $3,000 Ethereum Price Exceeds $2,800 Bitcoin Price Exceeds Psychological Level of $50k Bitcoin Recovers to January 11 Prices When ETFs Were Approved A Major Network Outage in Solana Had Little Impact on the SOL/USD Exchange Rate

Latest articles


Nvidia's Successes Helps S&P 500 Price Reach Its All-time High

Yesterday, the price of the S&P 500 stock index rose to record closing highs on Thursday. Moreover, such a growth rate (+2.11% per day) has not been observed for 13 months. Reasons for Extremely Bullish Sentiment: → Nvidia's

Forex Analysis

Market Analysis: AUD/USD and NZD/USD Grind Higher Steadily

AUD/USD is moving higher and might rally if it clears 0.6600. NZD/USD is also rising and could extend its increase above the 0.6220 resistance zone. Important Takeaways for AUD/USD and NZD/USD Analysis Today· The

Forex Analysis

Commodity Currencies Strengthen after the FOMC Minutes Publication

The fundamental data of recent trading sessions contributed to a slight strengthening of commodity and European currencies. Thus, the AUD/USD pair, after forming a bullish engulfing combination, managed to confidently gain a foothold above 0.6500. The pound/US

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. 65.68% 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.