Ether Sits on Support, Dash Lower

Share news

Ether is sitting on the important support around 0.07 BTC per coin. Meanwhile, Dash is making new yearly lows and is quoted at 0.03693 BTC at the moment.

Ether Sits on Support

After falling by almost 10 percent since last Thursday, Ether is back at the important support of 0.07 BTC. Yesterday we briefly dipped below this important level and traded as low as 0.06961 BTC. But as we frequently point out here we are looking for a decisive break of a level, not just a quick and shallow spike below it. There are a lot of games being played around important levels like 0.07 BTC so you shouldn’t jump the gun too quickly.


Ether is quoted at 0.07107 BTC right now. A decisive breakdown below 0.06961 BTC is needed to finally start the downtrend on the daily charts. For now, the pair remains in a range. Support below here can be found at 0.06606 BTC followed by the former swing high at 0.05906 BTC.

On the upper side, we need a break above 0.08061 BTC to start a new rally in prices. 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 breakout above may open to door to the 2018 high at 0.121 BTC. On the weekly charts, ETH/BTC is range-bound while the monthlies are still showing a bullish bias.

Downtrend in Dash Continues

The downtrend for DSH/BTC continues for another week. The altcoin hit a new yearly low of 0.03658 BTC yesterday. Currently, it’s trading not far from the lows at 0.03693 BTC per coin. This is lower by 5.2 percent compared to last Thursday.


We have support on the way down at 0.03557 BTC and 0.03452 BTC. The latter level is also a 14-month low for Dash. A breakdown below here could exacerbate the losses. A breakout above 0.04169 BTC is needed to both end the downtrend and begin a new uptrend. On the longer-term charts, the picture is mixed for Dash, prices are bearish on the weekly charts but bullish on the monthlies.

Join one of the largest crypto brokers – start cryptocurrency trading with FXOpen.

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 making your money go further with FXOpen.

*Cryptocurrency CFDs are not available to Retail clients in the UK

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.