ETH / BTC BREAK DESTROYED, DASH REMAINS IN THE NEXT TREND
A key support level of 0.06626 BTC was broken on Monday, which led to a rapid decline to the level of 0.05845. As a percentage, the decline was about 12% in less than 20 hours. Over the next few days, prices rose slightly, but today the recession resumed, and the pair reached new lows near the 0.05814 BTC mark. At the moment, the price is just above the low at 0.05834 per BTC.
As we mentioned last week, the 0.06626 level was the key support. Now a new downtrend on ETH / BTC has started. To complete it, the bulls will have to break through the local maximum of 0.07136. A new uptrend will require a break above the next important level of the local maximum of 0.07750.
Below the current prices, support is at the levels of the round figure of 0.05 and the local minimum of 0.04405, followed by another round level of 0.04 and a maximum of 2016 of 0.03720 BTC. Below is a strong support zone, consisting of a local maximum of 0.03409 and a local minimum of 0.03383. Going beyond this area can lead to an increased drop in prices for the ETH / BTC pair. On long-term charts, the situation has not changed much. On the weekly chart, the pair is squeezed in the range, and on the monthly chart is still in rally mode.
Downtrend Dash continues
The downward trend of DSH / BTC continues. Currently, the pair is quoted at a price of 0.558 per coin. The drop from the level of last Thursday 0.07045 was more than 20%.
Weak support can be found at the low of this week 0.05462 BTC, followed by a round figure of 0.05. Below is an extensive but very strong support zone, consisting of three previous local minima: 0.04177, 0.04303 and 0.0420 BTC. Going beyond this zone can lead to large losses for Dash.
At the top of the graph is the resistance at the level of the previous support zone 0,0690 - 0,07 BTC. However, the downtrend will continue until the local maximum of 0.07367 is broken through. To start a new price rally, you will need to move above the highs of last month 0.09750 BTC. Despite the downward trend on the daily charts, the DSH / BTC is still in an uptrend for weekly and monthly rates.
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