Bitcoin and Ethereum: Bitcoin climbs to the $26800 level
Yesterday, we saw the price of Bitcoin at the $26800 level.
The price of Ethereum managed to move up to the $1702 level last night.
Bitcoin chart analysis
Yesterday, we saw the price of Bitcoin at the $26800 level. After consolidation around the $26,000 level, a bullish impulse followed and growth to the previous high. Then, we see a pullback to support at the $26250 level, from which we initiate a new bullish consolidation. We are now at the $26450 level, and we could expect to start a further recovery. Bitcoin has additional resistance in the EMA50 moving average around the $26750 level. Potential higher targets are $26800 and $27000 levels.
We need a negative consolidation and pullback to the previous support at the $26000 level for a bearish option. A break below is a sign that the price is under pressure to continue its pullback. Potential lower targets are $25750 and $25500 levels.
Ethereum chart analysis
The price of Ethereum managed to move up to the $1702 level last night. For now, we have resistance at that level and have seen a pullback to the $1660 level. Today, we have support at that level and are currently hovering around the $1675 level. We need a break above if we want to see a new test of the $1700 level. Potential higher targets are $1720 and $1740 levels.
We need a break below the $1660 support level for a bearish option. After that, we look at $1640 as a new potential support where we would stop the pullback. A break below would confirm the bearish trend and the visit of lower levels. Potential lower targets are $1620 and $1600 levels.
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