Ether Rallies 13% then Loses All Gains


Ether prices rallied over 13 percent versus bitcoin but then lost all the gains. Dash on the other hand is down over 5% vs BTC today.

Ether Rallies 13% then Loses All Gains

Ether prices rallied over 13% versus bitcoin yesterday and hit 0.121 BTC per coin. The highs were quickly sold into however as the general crypto market saw declines. Bitcoin is currently down almost 15% versus the U.S. Dollar and that usually triggers altcoin losses as well.


The ETH/BTC pair is quoted at 0.10889 right now, around the same price it had at the start of the day. As you can see on the chart above, the V-shaped formation shows that all gains during the past 24 hours have been lost.

Nonetheless the pair remains in an uptrend. To end it the bears will need to push us below the 0.087 BTC swing low. A break below 0.08 BTC may start a new downtrend. Above these levels we find support at 0.1 BTC, 0.09886 and 0.095 BTC. Higher up there’s resistance at yesterday’s high of 0.121 BTC followed by the 0.15 round figure and the 0.15098 all-time high. On the longer-term weekly and monthly charts ETH/BTC  is still looking bullish.

Dash Down on the Day

While Ether ended the day mostly unchanged vs BTC (after a volatile session), Dash closed the session lower. One Dash is selling for 0.0649 right now, down from 0.06769 BTC this morning.


As can be seen on the chart above, DSH/BTC remains in a range on the daily charts. The bulls and the bears have been stuck in battle for the past month here. For now we remain in ‘wait and see’ mode here. The rectangle above shows the potential breakout points for this pair. A clean break below 0.059 BTC would start a new downtrend. Support below here can be found around the 0.05 round figure. A clearing of this support area could lead to more losses.

A break above 0.077 BTC may potentially start a new uptrend in prices. Close to here we have another resistance at 0.08058 BTC. Higher still we find more resistance levels at 0.08572, 0.087 and 0.09099 BTC. The 0.1 round figure is another potential resistance point. Dash is also range-bound on the weekly chart. Prices are looking bullish on the monthly charts however.

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

Bitcoin Cash Analysis: Promising Resistance Breakout 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

Latest articles

Financial Market News

Weekly Market Wrap With Gary Thomson: Inflation, EUR/USD, S&P 500, OIL

Get the latest scoop on the week's hottest headlines, all in one convenient video. Join Gary Thomson, the COO of FXOpen UK, as he breaks down the most significant news reports and shares his expert insights. Inflation Still Dogs the

Forex Analysis

Market Analysis: Dollar Falls from 10-month High

EUR/USDThe euro rose on Thursday as the dollar retreated since investors remained cautious ahead of key inflation figures due on Friday. Data on Thursday showed the US economy maintained fairly strong growth in Q2, with an unrevised annual rate


US 30 Analysis: Dow Jones Finds Support

September is likely to be the second month in a row that the Dow Jones (US 30) stock market index declined. The last time this happened was... also in September, a year ago. Important economic data was published yesterday: → According

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.