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Bitcoin and Ethereum: Bitcoin slips below the $25900 level

Bitcoin and Ethereum: Bitcoin slips below the $25900 level

Today, we see a pullback in Bitcoin price to the $25900. Ethereum continues its retreat this morning to the $1623 level.

Bitcoin chart analysis

Today, we see a pullback in Bitcoin price to the $25900. For now, we manage to hold above that level and stop further pullback. Price pressure is still present on the chart, and a break below the $25900 support level could happen soon. Potential lower targets are $25750 and $25500 levels.

We need a positive consolidation and price jump to the $26200 level for a bullish option. Then, we would need to hold ourselves up there before proceeding to further recovery. Potential higher targets are $26400 and $26600 levels. Additional resistance of the price of Bitcoin could be found in the EMA50 moving average around the $26200 level.

Ethereum chart analysis

Ethereum continues its retreat this morning to the $1623 level. Since then, we have slightly recovered to the $1635 level. We are still under bearish pressure, which means that we could soon see a continuation of the decline to the bearish side. Potential lower targets are $1620 and $1600 levels. Last week’s low price was at the $1580 level.

For a bullish option, we need a new positive consolidation and a return of the price around the $1650 level. Then, we need to maintain ourselves up there in order to try to start further recovery from that level. Potential higher targets are $1660 and $1670 levels. We have additional resistance to the bullish trend in the EMA50 moving average at the $1660 level.

The post Bitcoin and Ethereum: Bitcoin slips below the $25900 level appeared first on FinanceBrokerage.

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