News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site. See our updated Privacy Policy here.



Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events


Economic Calendar

Economic Calendar Events

Free Trading Guides
Please try again
More View more
Real Time News
  • While JPY gets clobbered, CHF decides to turn a blind eye to yields $CHF
  • The surprise 100 basis point cut from the Turkish central bank (to 18%) generated the expected pressure for $USDTRY. That said, I don't think it was the market that decided the momentum should die out at 8.8000 again...
  • surprised that $NQ is holding up so well with what rates are doing. 10 year yield at a 2 month high, $Nasdaq still holding resistance at prior support
  • The S&P 500 has recovered all the ground it lost at the start of the week and the Dollar has slumped post FOMC and PMIs. DailyFX's @JohnKicklighter gives a brief overview of the market for Thursday!
  • The future taper isn't enough to urge the Dollar to a critical bullish break. In turn, $EURUSD has reversed shy of of August's trough and keeps in play an inverse head-and-shoulders pattern with a neckline at 1.19
  • USD/CAD testing short-term moving average support. Traders have cut their long exposure over the week. Get your market update from @nickcawley1 here:
  • In the West, that qualifies as a default action. Let's see how it is treated in the world's second largest economy
  • Some Evergrande offshore bondholders do not expect company to make interest payment by Thursday deadline
  • The flash September US PMIs slowed more sharply than expected. That was a general trend across the developed world with most economies continuing to slow from their post-Pandemic peak recovery paces
Cryptocurrencies Trim Weekend Gains, Ethereum (ETH) Outperformance Continues

Cryptocurrencies Trim Weekend Gains, Ethereum (ETH) Outperformance Continues

Nick Cawley, Strategist

Bitcoin (BTC/USD), Ethereum (ETH/USD) Price, Chart, and Analysis

  • Bitcoin (BTC), Ethereum (ETH) giving back some of the weekend’s gains.
  • Ethereum/Bitcoin spread makes a break above trendline resistance.

The cryptocurrency market is giving back some of this weekend’s gains with market leader Bitcoin continuing to battle a zone of resistance between $42k and $43.5k. Cardano (ADA) jumped by nearly 50% over the weekend, before paring its gains, while a host of other alt-coins recorded double-digit jumps.

The daily BTC chart has been flashing an extremely overbought signal for a few days, so a pullback from its recent multi-week high is not unexpected. Support around $36,750, prior range resistance, should hold and allow BTC to retest overhead resistance once the latest consolidation phase is over.

Bitcoin Daily Price Chart (January – August 2, 2021)

Cryptocurrencies Trim Weekend Gains, Ethereum (ETH) Outperformance Continues

Ethereum bulls enjoyed a strong weekend with the second-largest coin by market cap breaking above multi-week resistance around $2,470. In this weekend’s cryptocurrency article I noted how this level of resistance was under increasing pressure, especially with the ‘London’ upgrade expected this week. Ethereum is up in excess of 50% from its June 20 multi-week low so a small pullback again is to be expected. All three moving averages are now starting to point higher, adding further belief that the recent cluster of highs just under $3,000 may soon come under pressure.

Bitcoin (BTC) and Ethereum (ETH) Moving Apart, Binance Shutters Some European Derivative Markets

Ethereum Daily Price Chart (December 2020 – August 2, 2021)

Cryptocurrencies Trim Weekend Gains, Ethereum (ETH) Outperformance Continues

The Ethereum/Bitcoin spread also broke higher this weekend, taking out a trend resistance line that has held the spread in check over the last few weeks. Support around 550 remains intact and a break and close above the July 7 swing high at 692 would negate the recent series of lower highs and allow the spread to push higher.

Ethereum/Bitcoin Daily Spread (February - August 2, 2021)

Cryptocurrencies Trim Weekend Gains, Ethereum (ETH) Outperformance Continues

Chart via

What is your view on Bitcoin andEthereum – bullish or bearish?? You can let us know via the form at the end of this piece or you can contact the author via Twitter @nickcawley1.

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.