Dukascopy Bank Team
Dukascopy Bank SA
BTC/USD Daily Chart: Could still edge higher
The Bitcoin cryptocurrency bounced off the support level at 47356.0 during last week's trading sessions. As a result, the world's largest cryptocurrency by market cap surged by 21.36%.
All things being equal, buyers are likely to continue to drive the BTC/USD exchange rate higher during the following weeks. The potential target for bullish traders could be near the $70K mark.
However, a resistance level at 65600.0 could provide a barrier for bulls in the shorter term.
ETH/USD Daily Chart: Registers new high
The Ethereum cryptocurrency has soared by 62.04% against the US Dollar since last week's trading sessions. A breakout occurred through the upper boundary of an ascending channel pattern this week.
As for the near future, the world's second-largest cryptocurrency by market cap is likely to continue to trend bullish. The potential target for buyers could be near the $4500 mark.
However, the ETH/USD cryptocurrency exchange rate could find resistance at the $3600 level during this week's trading sessions.
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.
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