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Bitcoin above support at 37800 and Ethereum jumps above 2100

Bitcoin above support at 37800 and Ethereum jumps above 2100

Yesterday, the price of Bitcoin had the opportunity to test the EMA50 moving average at the $37000 level. For the third day in a row, the price of Ethereum is in a bullish consolidation, climbing again above the $2100 level.

Bitcoin chart analysis

Yesterday, the price of Bitcoin had the opportunity to test the EMA50 moving average at the $37000 level. After receiving the expectation of support, we see the initiation of a bullish consolidation that continues today up to the $37800 level. We are once again in the two-week resistance zone and need a break above the $38,000 level to release the bearish pressure. Potential higher targets are $38200 and $38400 levels.

We need a negative consolidation and price pullback below the $37200 support level for a bearish option. In the zone around $37000 we would have a new opportunity to test the EMA50 moving average. The inability to hold above creates a new break, and we see the formation of a new low. Potential lower targets are $36800 and $36600 levels.

Ethereum chart analysis

For the third day in a row, the price of Ethereum is in a bullish consolidation, climbing again above the $2100 level. We are currently seeing the formation of a seven-day high at the $2127 level. Yesterday and today, we had solid resistance in the zone around $2080. but we successfully got over it today. We now expect to see further continuation of Ethereum growth and the formation of new highs. Potential higher targets are the $2140 and $2160 levels.

For a bearish option, we need a negative consolidation and a pullback of the Ethereum price to support at the $2060 level. A break below this level would bring us down to testing the previous low at the $2040 level. There, we would already be under more bearish pressure, and a further drop in the price of Ethereum could easily happen. Potential lower targets are $2020 and $2000 levels.

The post Bitcoin above support at 37800 and Ethereum jumps above 2100 appeared first on FinanceBrokerage.

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