Dukascopy Bank Team
Dukascopy Bank SA
BTC/USD fails to break $50K resistance
The Bitcoin cryptocurrency surged by 12.55% against the US Dollar during last week's trading sessions. The world's largest cryptocurrency by market cap failed to break the $50K mark last week.
Currently, the BTC/USD exchange rate is trading near a resistance near the 50,000 mark.
If the cryptocurrency breaks the $50,000 mark, buyers could target the all-time high at the 65,000 level during the following trading sessions.
However, if the resistance line holds, a decline towards the 50– day simple moving average at 41570.0 could be expected this week.
ETH/USD bulls could prevail
The Ethereum cryptocurrency has surged by 14.94% against the US Dollar since last week's trading sessions. The world's second-largest crypto by market capitalization breached the 3362.6 this week.
All things being equal, the exchange rate could continue to trend higher during the following trading sessions. The potential target for bullish traders would be near the $4200 mark.
On the other hand, the ETH/USD cryptocurrency could reverse from the current price level at 3427.1 and target the 50– day simple moving average at 2719.8 this week.
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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