Patterns: BTC/USD, ETH/USD
|BTC/USD tests $40,000
The BTC/USD exchange rate bounced off the $30K support level on July 21. As a result, the world's largest cryptocurrency by market cap has surged by 34% since last week's trading sessions.
Currently, the Bitcoin cryptocurrency is trading near the $40,000 mark resistance level.
If the blockchain breaks the resistance line, a surge towards the $50,000 area could be expected during the following trading sessions.
However, if the 40,000 resistance level holds, bears could continue to drive the price lower within this week's trading sessions.
ETH/USD above 50 and 200-day SMAs
The ETH/USD exchange rate bounced off the $1,700 support level on July 20. As a result, the world's second-largest cryptocurrency by market cap has surged by 33% since last week's trading sessions.
Given that the 50– and 200– day simple moving averages are below the price level, the Ethereum cryptocurrency could continue to edge higher during the following trading sessions.
However, the cryptocurrency exchange rate could encounter resistance at 2824.35 during the following trading sessions.
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