Dukascopy Bank Team
Dukascopy Bank SA
BTC/USD tests $40K mark
The Bitcoin cryptocurrency has declined by 23.53% against the US Dollar since last week's trading sessions. The world's largest cryptocurrency by market cap tested the $40,000 mark on September 22.
Technical indicators suggest selling signals on the 4H and daily time-frame charts. Most likely, the BTC/USD pair could continue to edge lower during the following trading sessions.
However, if the $40K support level holds, buyers could pressure the exchange rate towards the $55K mark during the coming weeks.
ETH/USD breached the 2780.0 level
Since September 7, the Ethereum cryptocurrency has declined by 33% against the US Dollar. The world's second-largest crypto by market cap tested the support level at 2780.7 during the Asian session on Wednesday.
If the support level at 2780.7 holds, bullish traders could pressure the ETH/USD exchange rate higher towards the $4500 mark during the following trading sessions.
However, if the cryptocurrency exchange rate breaks the support line, a decline towards the 1752.00 area could be expected during the coming weeks.
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
TRON gains 10% in 2024, supply of stablecoins reaches over $50 billion in Q1
TRON, a blockchain-based digital platform, has seen positive growth in the first quarter of 2024, as seen in a Messari report. TRON noted gains across several metrics like market capitalization, revenue and total value locked.
XRP hovers near $0.50 as Ripple CTO addresses concerns related to stablecoin launch
XRP is hovering near $0.53 on Friday, spending nearly all week below $0.55. Ripple CTO David Schwartz addressed concerns on stablecoin and XRP utility on Thursday.
Terraform Labs set to restrict access for users in the US after recent ruling in SEC lawsuit
Blockchain company Terraform Labs said Thursday that it will restrict access to some of its products and services for US-based users as it expects to receive a court order soon in light of its legal battle against the US Securities and Exchange Commission (SEC).
Bitcoin Weekly Forecast: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.
Bitcoin: BTC’s next breakout could propel it to $80,000 Premium
Bitcoin’s (BTC) recent price consolidation could be nearing its end as technical indicators and on-chain metrics suggest a potential upward breakout. However, this move would not be straightforward and could punish impatient investors.