Mixed results for the two cryptos we’ll cover today. While Ether gained ground on BTC compared to last week, Dash lost some. But both the gains for ETH and the loss for DSH haven’t been drastic.

ETH/BTC Slowly Trending Higher

The price of ETH/BTC has been slowly trending higher the past few days. Our last update recorded a print of 0.08814 BTC and we’re currently quoted at 0.09294 BTC, a gain of 5.6 percent.

As you can see on the chat above the pair has been going up strongly since early December and more gradually since the 0.08090 BTC bottom. A break below here would end the current uptrend. A move below 0.06458 BTC is needed to start a new downtrend. Other support levels in-between can be found at 0.06749, 0.06856 and 0.07136 BTC. Higher still the 0.08 round figure may act as temporary support as well.

On the upper end we have resistance at yesterday’s highs of 0.09504 BTC, followed by the 0.09650 swing high and the January highs at 0.09886 BTC. The 0.01 round figure is another notable resistance point, as is the all-time high at 0.015098 BTC. On the longer-term weekly and monthly charts ETH/BTC is keeping the bullish bias.

Dash Down vs Bitcoin

Dash prices are trading lower versus bitcoin. One Dash is selling for 0.06861 BTC right now, down from 0.07238 BTC last week. This is a relatively small drop of 4.8 percent for DSH/BTC. Back in December we saw this pair move by over 30 percent on some days.

Despite the drop, Dash stayed inside its range, as can be seen on the chart above. The number ‘to beat’ is still 0.059 BTC on the downside. A break below here could start a new downtrend. Last week we got close to it but prices bottomed out at 0.06059 BTC. Support below here can be found around the 0.05 round figure. A clearing of this support area should lead to more losses.

Higher up the bulls need a breakout above the 0.07707 swing high. Close to here we have another potential resistance at 0.08058 BTC. Conservative traders may wait to see if this level breaks too. Higher still there’s resistance at 0.08572, 0.087 and 0.09099 BTC. The 0.1 round figure is another potential resistance point for DSH/BTC. On the longer-term charts Dash is range-bound on the weekly but bullish on the monthly.

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.

*Important: At FXOpen UK, Cryptocurrency trading via CFDs is only available to our Professional clients. They are not available for trading by Retail clients. To find out more information about how this may affect you, please get in touch with our team.

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.