Bitcoin and Ethereum: Bitcoin is hovering around $28000
During the previous weekend, bitcoin’s price was based on gaining support at the $27,000 level.
The price of Ethereum is trying to hold above the $1750 level.
Bitcoin chart analysis
During the previous weekend, bitcoin’s price was based on gaining support at the $27,000 level. Bitcoin succeeds in this, and we are hovering around the $28000 level. Additional support for the bullish option is in the EMA50 4h moving average. If today’s consolidation continues, bitcoin’s price could increase to the $28,250 level and base its position above the $28,000 level.
If we succeed in this, continuing the bullish option would be very likely. Potential higher targets are $28600 and $29000 levels. For a bearish option, we need a negative consolidation and a pullback to support at the $27300 level. a drop below could drag us even lower. And the next lower support zone is $26470-$26680.
Ethereum chart analysis
The price of Ethereum is trying to hold above the $1750 level. The movement is very slow, but for now, the price has support in the EMA50 4h moving average, which could be considered positive. We need a more concrete bullish impulse that would move us above the $1780 level. Up there, we would be very close to testing the $1800 resistance level.
Potential higher targets, if we climb higher, are the $1830 and $1860 levels. We need a negative consolidation and a drop below the $1740 level for a bearish option. We would find ourselves below the moving indicators, which could shake the price of Ethereum and send it down to test the $1700 level.
The post Bitcoin and Ethereum: Bitcoin is hovering around $28000 appeared first on FinanceBrokerage.
