Dukascopy Bank Team
Dukascopy Bank SA
BTC/USD tests $50K mark
Since the beginning of August, the Bitcoin cryptocurrency has edged higher by 30.94% against the US Dollar. The world's largest crypto by market cap breached the $50K level on August 23.
If the BTC/USD cryptocurrency exchange rate breaks the $50,000 resistance level, bullish traders could target the $60K mark during the following trading sessions.
However, if the resistance level holds, a decline towards the 50– day simple moving average near the 40,000 area could be expected.
ETH/USD breached $3,400
Since August 3, the Ethereum cryptocurrency has surged by 37.25% against the US Dollar. The world's second-largest crypto by market cap tested the $3,400 mark on August 23.
Technical indicators suggest buying signals on the daily time-frame chart. Most likely, buyers could continue to drive the price higher during the following trading sessions.
However, if the resistance level near the $3,400 area holds, a decline towards the 50– day simple moving average at 2565.6 could be expected in the nearest future.
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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