Gains for Dash and Ether

Both Dash and Ether gained versus bitcoin this week. Ether is up by exactly 10 percent since our last update while Dash is up by a smaller 9.4 percent.

Ether Remains in Range

Despite the large gains in ETH/BTC however, the pair is still trading inside that range. We hit a high of 0.08423 yesterday, far below the 0.09322 swing high.

ethbtcdaily-aug31-copy

Like we said last week, a breakout above here is needed for a new rally. Higher up the first important resistance is 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.

On the lower end the bears are looking at 0.05875 BTC. A breakdown below here could start a new downtrend in prices. On the weekly charts ETH/BTC is range-bound as well. On the monthlies the pair is still looking bullish.

More Gains for Dash

Dash continues to rally against BTC. The altcoin is up by 9.4 percent this week to 0.07810 BTC. Five days ago prices hit a high of 0.0943 BTC but have since retraced sharply as bitcoin gained ground.

dshbtcdaily-aug31-copy

The bullish trend on the daily charts will remain in place until the 0.068 BTC swing low is taken out. Resistance on the way up can be found at the 0.087 swing high, followed by the 0.0943 swing high. Higher still the 0.1 BTC level is another potential resistance where prices could stall/reverse.

On the lower end we have support around 0.068 – 0.07 BTC per coin. This is followed by the 0.06 and 0.05 round figures. A new bearish trend requires a break below the 0.0442 BTC swing low. On the longer-term weekly and monthly charts DSH/BTC is still in an uptrend.

New Highs for Bitcoin

Because both ETH/BTC and DSH/BTC prices depend heavily on bitcoin, let’s do a BTC update as well. It’s only been two days since our last BTC/USD article and the pair has already made new all-time highs. We hit a high of $4,717 earlier today and prices are slowly nearing the $5,000 round figure.

A break below the $3,600 swing low is needed to end the current uptrend. A new bearish trend needs a move below $3,500 as well. On the weekly and monthly charts bitcoin is still in the same bullish trend started back in 2015. It’s been one hell of a ride.

Petar Kotevski

Petar is a forex trader and writer with 9 years of experience in financial markets. He has been following bitcoin since 2010. A year ago, as the BTC market matured, he started getting more involved by writing articles on bitcoin and other alternative currencies.

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