Dukascopy Bank Team
Dukascopy Bank SA
BTC/USD daily 4H chart: Consolidates below $40,000
The Bitcoin cryptocurrency has been consolidating below the $40,000 level since the middle of May.
The world's largest crypto by market capitalization, declined by 10% during last week's trading sessions.
Technical indicators suggest selling signals on the 4H, daily and weekly time-frame charts. Most likely, sellers could continue to pressure the BTC/USD pair lower during the following trading sessions.
On the other hand, the Bitcoin versus the USDT could continue to trade within the $30,000/$40,000 range during next week's sessions.
ETH/USD daily chart: Fails to surpass 50-day SMA
The Etheruem cryptocurrency edged higher by 28.93% against the US Dollar during last week's trading sessions. The surge was stopped by the 50– day simple moving average.
The second-largest cryptocurrency by market capitalization failed to surpass the 50– day SMA.
Technical indicators suggest selling signals on the 4H time-frame chart. The exchange rate could continue to edge lower this week.
However, sellers are likely to encounter support at the $2,000 level during the following 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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