Bitcoin and Ethereum: Bitcoin is holding above $26200

Over the weekend, the price of Bitcoin managed to reach $26,785.
Early on Saturday, the price of Ethereum jumped to the $1770 level. 

Bitcoin chart analysis

Over the weekend, the price of Bitcoin managed to reach $26,785. After that, we see consolidation in the $26400-$26600 range. This morning the price makes a bearish consolidation and retreats from $26600 to $26200. 

We managed to recover $26400, but now we are encountering resistance there. This could have a negative impact and send the price of Bitcoin back below the $26,000 level. In that zone, we have additional support in the EMA50 moving average, and a drop below it would only intensify the bearish pressure. Potential lower targets are $25800 and $25600 levels.

Ethereum chart analysis

Early on Saturday, the price of Ethereum jumped to the $1770 level. After that, we see a bearish consolidation and a pullback to the $1720 level. Since then, we have been moving sideways in the $1720-$1740 range. The price has also now fallen below the EMA50 moving average, which could have a negative impact on the trend. Potential lower targets are $1700 and $1680 levels. 

We need a price return to the zone above the $1750 level for a bullish option. After that, we would again be in a position to test the $1770 previous high. Then it is necessary to maintain up there if we want to see a bullish continuation. Potential higher targets are $1780 and $1800 levels.

The post Bitcoin and Ethereum: Bitcoin is holding above $26200 appeared first on FinanceBrokerage.