Patterns: BTC/USD, ETH/USD
|BTC/USD tests support cluster
During last week's trading sessions, the Bitcoin cryptocurrency declined by 15.47% against the US Dollar. The decline was stopped by the 50– and 200– day SMAs on September 12.
Technical indicators suggest buying signals on the weekly time-frame chart. Most likely, buyers could pressure the BTC/USD exchange rate higher during the following trading sessions.
However, bullish traders could encounter resistance at $52,000 during this week's trading sessions.
ETH/USD two scenarios likely
The world's second-largest cryptocurrency by market cap, Ether, has declined by 21.10% since last week's trading sessions. The decline was stopped by the 50– day simple moving average on September 13.
All things being equal, the Ethereum cryptocurrency could continue to edge lower during the following trading sessions. The potential target for bears would be near the support level formed by the 200– day SMA at 2514.5.
However, if the 50– day moving average support level holds, bullish traders could pressure the exchange rate higher during the following trading sessions.
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