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. 

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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.

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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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