Investing

Bitcoin and Ethereum: Bitcoin is testing the $27,500 level

Bitcoin and Ethereum: Bitcoin is testing the $27,500 level

The price of bitcoin received support at the $26600 level yesterday. 
The price of Ethereum continues to hover around the $1820 level. 

Bitcoin chart analysis

The price of bitcoin received support at the $26600 level yesterday. After consolidating at that level, bitcoin manages to start a new recovery with a bullish impulse. We are back above the $27000 level again and on our way to reaching the $27500 level. Bitcoin is now above the EMA50 moving average, and we could expect to see a further continuation of the price increase. Potential higher targets are $27600 and $27800 levels.

Ethereum chart analysis

The price of Ethereum continues to hover around the $1820 level. We are still testing the EMA50 moving average. We could evaluate the current consolidation positively with support in the EMA50 moving average. We need a continuation of the positive consolidation to start further recovery.

Potential higher targets are the $1840 and $1860 levels. We need a negative consolidation and pullback to $1800 for a bearish option. A price drop below this level could bring us down to testing yesterday’s low at the $1790 level. Increased pressure could further lower the price to the lower line of the channel in the $1770-$1780 zone.

 

The post Bitcoin and Ethereum: Bitcoin is testing the $27,500 level appeared first on FinanceBrokerage.

You May Also Like

Economy

Boeing’s crew spacecraft Starliner will stay docked with the International Space Station into August, NASA confirmed on Thursday, as the mission remains on hold...

Editor's Pick

In this edition of StockCharts TV‘s The Final Bar, Dave shows how breadth conditions have evolved so far in August, highlights the renewed strength in the...

Stock

S&P 500 pared back its intraday gain on Wednesday following a Bloomberg report that Royal Group has built a multi-billion-dollar short position in U.S....

Economy

A U.S. judge has ruled that former Bed Bath & Beyond investor Ryan Cohen can be sued by investors over a tweet he posted featuring an...

Disclaimer: Richpeoplenetworks.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2024 Richpeoplenetworks.com

Exit mobile version