Patterns: BTC/USD, ETH/USD
|BTC/USD tests $40K mark
The Bitcoin cryptocurrency has declined by 23.53% against the US Dollar since last week's trading sessions. The world's largest cryptocurrency by market cap tested the $40,000 mark on September 22.
Technical indicators suggest selling signals on the 4H and daily time-frame charts. Most likely, the BTC/USD pair could continue to edge lower during the following trading sessions.
However, if the $40K support level holds, buyers could pressure the exchange rate towards the $55K mark during the coming weeks.
ETH/USD breached the 2780.0 level
Since September 7, the Ethereum cryptocurrency has declined by 33% against the US Dollar. The world's second-largest crypto by market cap tested the support level at 2780.7 during the Asian session on Wednesday.
If the support level at 2780.7 holds, bullish traders could pressure the ETH/USD exchange rate higher towards the $4500 mark during the following trading sessions.
However, if the cryptocurrency exchange rate breaks the support line, a decline towards the 1752.00 area could be expected during the coming weeks.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.