Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors.

Ethereum price is surging this week while Bitcoin tremendous rise from last week has taken a breath. ETH/BTC is a fantastic cross pair to track for those traders interested ter incorporating relative asset vertoning ter their analysis. Yesterday, Ethereum showcased a ideal example of how useful this kleintje of analysis can be, cracking a downtrend against Bitcoin that had began back te June.

ETH/BTC Daily Chart

It&rsquo,s effortless to spot on this chart how ETH/BTC broke the main downtrend ter early December but failed ter its very first breakout attempt. The main cryptocurrency cross still managed to find support te the previous resistance and then gather enough steam to launch the current bullish rail.

ETH/BTC 4H Chart

ETH/BTC is battling with very first resistance level at 0.040. If violated, further resistance can be found at 0.042 very first and 0.047 afterward.

On the downside, most instantaneous support is sitting at 0.033 and the major trendline support is at 0.027.

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Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you spil well spil for you. Before determining to trade foreign exchange you should cautiously consider your investment objectives, level of practice and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

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