Bitcoin And Ethereum: Bitcoin Is Holding Above $27000
Bitcoin chart analysis
Bitcoin spent yesterday consolidating around support at the $27,000 level. It managed to hold above and move towards the $27250 level. If this consolidation continues, we could expect to see a continuation on the bullish side. The next hurdle is the $27400 level, and a break above is needed to continue and then hold up there. The new impulse triggers further resistance; the potential higher targets are the $27600 and $27800 levels.
We need a negative consolidation and price pullback below the $27000 support level for a bearish option. Below, we could expect to see a further weakening of Bitcoin and a drop to lower levels. Potential lower targets are $26800 and $26600 levels.
(Click on image to enlarge)
Ethereum chart analysis
The price of Ethereum hovered around support at the $1700 level yesterday. In the last couple of hours, we have seen a slight bullish consolidation that could push the price of Ethereum to start a recovery. Potential higher targets are $1720 and $1740 levels. Yesterday’s resistance was in the zone around the $1720 level.
We need a negative consolidation and a price drop below the $1700 support level for a bearish option. After that, the price could go down to $1680, and there we come across the EMA50 moving average. A break below this support would mean a return to last week’s movement zone. Potential lower targets are $1660 and $1640 levels.
(Click on image to enlarge)
More By This Author:
Dogecoin And Shiba Inu: Dogecoin Is Holding Above 0.06500Bitcoin And Ethereum: Bitcoin Jumped To $28142 Yesterday
Dogecoin And Shiba Inu: Dogecoin is holding At 0.06300
Disclaimer: Finance Brokerage and its workforce cannot, and do not, absolute warrant the accuracy, relevancy, reliability, consistency, and completeness of any information and materials in the ...
moreComments
![](/images/tinyMceCommentImg.png)