Patterns: BTC/USD, ETH/USD
|BTC/USD remains near $30K
The 50– day simple moving average provided resistance for the BTC/USD cryptocurrency pair during last week's trading sessions. As a result, the Bitcoin cryptocurrency has declined by 11% against the US Dollar since last week.
The blockchain was trading near the $30,000 mark during the Asian session on Wednesday.
If the BTC/USD pair breaks the $30,000 level, a decline towards the $25,000 mark could be expected during the following trading sessions.
However, if the support level near the $30K mark holds, buyers might target the 200– day SMA at $45,000 during the coming weeks.
ETH/USD falls below 200– day SMA
The Ethereum cryptocurrency has declined by 22.19% against the US Dollar since last week's trading sessions. The blockchain breached the 200– day simple moving average this week.
Technical indicators suggest selling signals on the 4H and daily time-frame charts. Most likely, sellers could continue to drive the world's second-largest cryptocurrency lower during the following trading sessions.
However, the ETH/USD cryptocurrency exchange rate could encounter support at the 1700.00 level within this week's trading sessions.
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