Connect with us

Hi, what are you looking for?

Investing

Bitcoin and Ethereum: Bitcoin retests support at $26600

Bitcoin and Ethereum: Bitcoin retests support at $26600

Bitcoin succumbed to pressure yesterday at the $27500 level, and a pullback followed. 
The price of Ethereum failed to sustain above the $1850 level yesterday. 

Bitcoin chart analysis

Bitcoin succumbed to pressure yesterday at the $27500 level, and a pullback followed. The price drop was stopped at the $26623 level this morning. We are now in a support zone, and we could expect to see some holding here before the next major price move. We need a positive consolidation and stabilization above 26800 for a bullish option.

After that, a bullish impulse is needed to recover above the $27000 level. Potential higher targets are $27200 and $27400 levels. For a bearish option, we need a negative consolidation and a test of support at the $26400 level. A break below could push the price even lower, with potential lower targets of $26,200 and $26,000.

Ethereum chart analysis

The price of Ethereum failed to sustain above the $1850 level yesterday. This was followed by a breakout below and a price drop to $1813. Now we see a consolidation at that level and an attempt to hold there and stop the decline. A break below would bring us to the $1800 level.

We will have increased bearish pressure down there, which could lead to a continuation of the pullback. Potential lower targets are $1790 and $1780 levels. We need a positive consolidation and a move to the $1830 level for a bullish option. Then we need to hold up there before moving on to the bullish side. Potential higher targets are the $1840 and $1850 levels.

 

The post Bitcoin and Ethereum: Bitcoin retests support at $26600 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