Pattens: BTC/USD, ETH/USD
|BTC/USD makes pullback
The Bitcoin cryptocurrency has declined by 15.24% against the US Dollar since this week's trading sessions. The decline was stopped by the 200– day simple moving average at 45854.9 on September 7.
If the support level, formed by the 200– day SMA holds, bullish traders could pressure the world's largest cryptocurrency towards the $60K mark during the following trading sessions.
However, if the BTC/USD cryptocurrency pair breaks the support level, bears could target the $40,000 mark this week.
ETH/USD tests $4K mark
The Ethereum cryptocurrency edged higher by 26.22% against the US Dollar last week. The world's second-largest cryptocurrency by market cap tested the $4000 mark on September 5.
All things being equal, the exchange rate could continue to trend higher during the following trading sessions. The potential target for bullish traders would be near the $4500 mark.
However, if the ETH/USD cryptocurrency pair breaks the support level at 3362.8, a decline towards the 200– days simple moving average at 2500.0 could be expected in the nearest future.
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