Dukascopy Bank Team
Dukascopy Bank SA
ETH/USD 4H: Selling bias
The Ethereum cryptocurrency has declined by 8.58% against the US Dollar since June 24. The exchange rate breached the 215.00 level during last week's trading sessions.
The currency pair is currently trading near the upper boundary of a descending channel pattern at 225.6.
If the channel pattern holds, bears will continue to pressure the cryptocurrency exchange rate lower during next week's trading sessions.
However, if the ETH/USD pair breaks the descending channel pattern, a surge towards the 240.00 mark could be expected within the following trading sessions.
BTC/USD 4H Chart: Decline likely to continue
The Bitcoin cryptocurrency has declined by 6.83% against the US Dollar since June 24. The currency pair tested the $8900 mark during Thursday's trading session.
Technical indicators flash selling signals on both the smaller and the daily time-frame charts. Therefore, the BTC/USD exchange rate could continue to edge lower during next week's trading sessions. The possible target for bearish traders will be at the $8000 level.
However, bears need to surpass the support level at the 8900 area before reaching the given target.
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
SEC doubles down on TRON's Justin Sun lawsuit dismissing claims over jurisdiction
The SEC says it has jurisdiction to bring Justin Sun to court as he traveled extensively to the US. Sun asked to dismiss the suit, arguing that the SEC was targeting actions taken outside the US.
XRP fails to break past $0.50, posting 20% weekly losses
XRP trades range-bound below $0.50 for a sixth consecutive day, accumulating 20% losses in the last seven days. Ripple is expected to file its response to the SEC’s remedies-related opening brief by April 22.
ImmutableX extends recovery despite $69 million IMX token unlock
ImmutableX unlocked 34.19 million IMX tokens worth over $69 million early on Friday. IMX circulating supply increased over 2% following the unlock. The Layer 2 blockchain token’s price added nearly 3% to its value on April 19.
Bitcoin Weekly Forecast: BTC post-halving rally could be partially priced in Premium
Bitcoin price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?
Bitcoin: BTC post-halving rally could be partially priced in Premium
Bitcoin (BTC) price briefly slipped below the $60,000 level for the last three days, attracting buyers in this area as the fourth BTC halving is due in a few hours. Is the halving priced in for Bitcoin? Or will the pioneer crypto note more gains in the coming days?