Bitcoin and Ethereum: Bitcoin price support at $27750
During the first part of the day, the price of bitcoin retreated to the $27,600 level.
The price movement has remained unchanged in the last three days.
Bitcoin chart analysis
During the first part of the day, the price of bitcoin retreated to the $27,600 level. After that, we see the decline stop and the formation of new support. Bitcoin has since recovered to $27900 and is trying to hold around that level. We need a positive consolidation and price crossing above the $28200 level for a bullish option.
Then we would go back above the EMA20 moving average, which would be additional support for us with the EMA50 moving average. Potential higher targets are $28600 and $29000 levels. We need a passive consolidation and a price drop below the $27600 level for a bearish option. After that, we could expect to see a further pullback in the price of Bitcoin. Potential lower targets are $27300 and $27000 levels.
Ethereum chart analysis
The price movement has remained unchanged in the last three days. The range is $1780-$1830. Additional support at $1780 is in the EMA50 moving average, and if we manage to hold above it, the chances of further price growth are high. We need a positive consolidation and a move to the $1830 resistance level for a bullish option.
A price break above and staying up would be a great indicator that Ethereum has the strength to recover further. Potential higher targets are the $1850 and $1875 levels. We need a price drop to $1780 and a break below for a bearish option. After that, we could expect to see further decline. Potential lower targets are $1750 and $1700 levels.
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