Bitcoin and Ethereum: Bitcoin is still around $26000
During the weekend, the price of Bitcoin hovered around the $26,000 level. During the weekend, the price of Ethereum hovered around the $1640 level.Bitcoin chart analysis
During the weekend, the price of Bitcoin hovered around the $26,000 level. We are back in the previous movement zone before last week’s jump to the $28142 level. On Friday, a new low was formed at the $25333 level, from which we started the current trend. On two occasions, the price jumped above the $26,100 level but quickly returned to the $26,000 level.
We need a positive consolidation and a jump to the $26200 level for a bullish option. Additional resistance in the zone around the $26,200 level is represented by the EMA50 moving average. Potential higher targets are $26400 and $26600 levels.
We need a negative consolidation and pullback below the $25800 level for a bearish option. After that, the price would be under pressure to continue its pullback. Potential lower targets are $25600 and $25400 levels.
Ethereum chart analysis
During the weekend, the price of Ethereum hovered around the $1640 level. Today, we continue with the same lateral consolidation. We are in a slight bullish trend after the drop on Friday to the $1602 level. If this kind of consolidation continues, we could expect to see the price at the $1650 level.
Additional pressure in that zone is in the EMA50 moving average, and we need a break above to continue the recovery. Potential higher targets are $1660 and $1670 levels. We need a negative consolidation and a price drop to the $1620 level for a bearish option. Thus, we would form a new low, which would confirm the bearish option. Potential lower targets are $1600 and $1580 levels.
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