BTC/USD 4H Chart: Guided by 200-hour SMA
The 200-hour simple moving average is gradually guiding the Bitcoin cryptocurrency up against the US Dollar. The pair reached the 8224.4 area during yesterday's trading session.
As for the near future, it is likely that the BTC/USD pair will continue its movement in an uptrend line. The cryptocurrency could aim for a re-test of the $9000 mark during the following trading sessions.
However, a resistance level formed by the weekly R1 at 8561.87 could hinder the pair from aiming for the $9000 mark in the nearest future.
ETH/USD 4H Chart: Likely to edge lower
The ETH/USD pair has appreciated about 15.24% in value since last week's trading sessions. The cryptocurrency breached the 23.60% Fibonacci retracement level at 264.0.
Everything being equal, it is likely that the Ethereum cryptocurrency will edge lower during the following trading sessions. Bears could drag the pair towards the lower boundary of an ascending trendline at 239.7.
On the other hand, if the pair passes the 23.60% Fibonacci retracement level, the next target for bullish traders would be at the weekly R2 at 290.9.
This overview can be used only for informational purposes. Dukascopy SA is not responsible for any losses arising from any investment based on any recommendation, forecast or other information herein contained.
Recommended Content
Editors’ Picks
SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction
The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.
XRP fails to break past $0.50, posting 20% weekly losses
XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22.
ImmutableX extends recovery despite $69 million IMX token unlock
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?