Dash prices spiked higher on August 19th and ended the two-week long drawdown. Ether, on the other hand, remains locked in a range versus BTC.
Ether Still in Range
While both ETH and BTC continue to clock gains versus the U.S. Dollar, against each other they’re trading flat. Ether is quoted at 0.0745 BTC right now, slightly up compared to prices one week ago.
The two important levels haven’t changed much. On FXOpen charts we’re seeing a spike to a low of 0.05495 on August 23rd. But this crash was instantly retraced and could’ve been the result of a bad tick. Thus the key level on the downside remains at 0.05875 BTC. A breakdown below here would start a new downtrend in prices. As usual, we’re looking for a decisive break, not just a brief and shallow spike below/above the levels.
On the upside, the figure to watch remains at 0.09322. A breakout above here could start a new ETH rally. Not far from here we find the first notable resistance at the 0.1 round figure, followed by another important level at 0.111 BTC per coin. A break of this level could lead to more gains higher up. On the long-term charts ETH/BTC is bullish on the monthlies but range-bound on the weeklies.
Dash Breaks to the Upside
The nearly two-week long downtrend in DSH/BTC ended with a large green candle on August 19th. This candle broke the 0.06858 level, penned in our previous article as a trend-ender. It also began a new upward trend in prices.
The news driver behind the large move seems to be the signing of a partnership with the Arizona State University. Dash is launching a ‘Blockchain Research Lab’ which will be hosted at ASU’s Fulton College of Engineering and will focus on scalability, mining centralization, Blockchain security and energy efficient mining. More on this HERE.
The rally faces resistance at the 0.07802 spike high. This coincides with the previous swing high on July 24th (0.07809 BTC). A breakout above here could extend the move higher to the 0.08 round figure and possibly beyond.
On the lower end, we’re looking at 0.048 BTC level as a potential trend-ender. Support above here can be found at the 0.05 round figure. On both longer-term charts (weekly and monthly) DSH/BTC is trending higher as well.
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