Bitcoin and Ethereum: Bitcoin above $27000 this morning
The price of Bitcoin jumped to $27166 this morning, forming a two-week high.
Ethereum price continues to move sideways today in the $1700-$1740 range.
Bitcoin chart analysis
The price of Bitcoin jumped to $27166 this morning, forming a two-week high. After that, the price makes a pullback and retreats to the $26,800 level. She managed to get support at that level, and the fall was stopped. Now we need a positive consolidation and a return above the $27000 level.
With the return up, we would be close again to test this morning’s high. We would also have the opportunity to break above and form a new higher high. Potential higher targets are $27400 and $27600 levels.
We need a negative consolidation and pullback to 26600 levels for a bearish option. We would already be under certain bearish pressure there, and the price could continue to retreat. Potential lower targets are $26400 and $26200 levels.
Ethereum chart analysis
Ethereum price continues to move sideways today in the $1700-$1740 range. In the middle of this channel is the EMA50 moving average. We need a positive consolidation that would push us to the $1750 level; in that way, we would approach the resistance at the $1760 level. Then it is necessary to hold up there in order to consolidate there before the bullish continuation. Potential higher targets are $1770 and $1780 levels.
If we fail to hold above the EMA50 moving average, the price could slip to support at the $1720 level. After that, we would be very close to testing the $1700 support level. A break below would negatively affect the price and send it to lower levels. Potential lower targets are $1680 and $1660 levels.
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