BTC/USD is trading at $40296.8 much higher than previous day close. The Bitcoin crossed $40K mark; almost consolidating sideways since last two months. The Tesla’s CEO Elon Musk tweeted to resume accepting the Bitcoin as a medium of payment if it mines out of sustainable energy & hence, rallied the prices. Globally, the falling Gold prices & uncertain equity markets ahead of the Fed meeting which is to be concluded on Wednesday; remains slightly supportive for digital currencies. As seen in the chart, the BTC/USD formed multiple lows around $30000 levels, which showed a strong reversal since it has been defended. Buying bias may be seen in BTC/USD with a target of $42200 on short to medium term basis.

ETH/USD is trading at $2620.55 slightly higher since previous close. The flat to higher side trading can be seen in Ethereum since last few sessions amid resurgence in trading volumes in overall digital currencies. However, uncertain equity markets & lower Gold prices ahead of FOMC meet remains slightly supportive for digital assets. Earlier to this, the Chinese ban on crypto trading services tumbled down the assets which led Ethereum to trade near lower levels of $2500. As seen in the chart, the ETH/USD seems to be sustaining near the short term Moving Averages of period 10 & 20 which strongly indicates make or break situation. Sideways trading may be suggested for the day in ETH/IUSD.