Patterns: BTC/USD, ETH/USD

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.