Ether, the world’s second largest digital currency, is currently priced at $176 – up 36% from the starting point of the year. Meanwhile, bitcoin, the biggest digital currency, is up 30 percent.
On a month-to-date basis, ether is outshining bitcoin. The former, however, is lagging the latter, when it comes to confirming bullish technical setups.
Bitcoin cruised past the January 14 highs near $9,200 on Tuesday and in the process set a bullish higher high on the D1 chart. Ether, however, is yet to cross the January 14 high of $180.
Bitcoin has also posted solid gains above the 200DMA, creating room for further rise toward $10,0000. Bitcoin is currently priced at around $9,350 on major exchanges, while its 200DMA is placed near $8,900.
Ether, however, is trading at its 200DMA at $176 and so far has managed to print a high of $179.
If bitcoin sees a technical correction from the current price, ether may end up producing a double top pattern on the D1 with support at $155.