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Bitcoin and Ethereum: Bitcoin bounces back above $26,000

Bitcoin and Ethereum: Bitcoin bounces back above $26,000

Bitcoin price has continued its recovery since yesterday. Compared to yesterday, we don’t have any big moves on the Ethereum chart.

Bitcoin chart analysis

Bitcoin price has continued its recovery since yesterday. We are again above the $26,000 level and manage to stay at that level. The current bullish consolidation could take us above the $26200 level, which would lead to the formation of a new higher high. We have additional resistance at that level in the EMA50 moving average, and we need a break above it in order to get rid of the bearish pressure.

Potential higher targets are $26400 and $26600 levels. We need a negative consolidation and pullback to the $25800 support level for a bearish option. For two days now, that level has provided us with solid support. A break above could mean a continuation of the Bitcoin price pullback. Potential lower targets are $25600 and $25400 levels.

Ethereum chart analysis

Compared to yesterday, we don’t have any big moves on the Ethereum chart. The price is still moving in the $1730-$1760 range. We are currently consolidating around the $1750 level and could see a breakout to the $1760 upper resistance line. The price would move above and eliminate the bearish pressure. In the future, the price would have the opportunity to start a further recovery.

Potential higher targets are $1770 and $1780 levels. In the zone around the $1790 level, we encounter the EMA50 moving average as an additional resistance at that level. We need a negative consolidation and a pullback to the $1730 support level for a bearish option. A fall below it could lead to the formation of a new lower low. Potential lower targets are $1710 and $1700 levels.

The post Bitcoin and Ethereum: Bitcoin bounces back above $26,000 appeared first on FinanceBrokerage.

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