Bitcoin chart analysis

The bitcoin price took advantage of yesterday’s drop in the dollar, climbing to the $27297 level. We have now moved into the zone around the $27000 level and are trying to consolidate at that level. If we manage to withstand the pressure and stay here, we will be in a good position to continue our recovery. Potential higher targets are $27250 and $27500 levels.

We need a negative consolidation and a drop below the $27000 support level for a bearish option. After that, we could expect Bitcoin to continue its pullback to the next lower support. Potential lower targets are $26750 and $26500 levels. Additional support in the zone around $26,500 is in the EMA50 moving average, and this is where the potential price decline could be stopped.

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Ethereum chart analysis

The price of Ethereum formed its weekly high at the $1988 level. In the past few days, we have seen a stable bullish consolidation from the $1580 level to the formation of today’s high. We are currently seeing a slight pullback to the $1675 level. We managed to hold on there, and now we are waiting for a bullish consolidation to continue on the bullish side. Potential higher targets are $1690 and $1700 levels.

We need a negative consolidation and pullback to the $1650 support level for a bearish option. A break below would confirm a bearish option and a continuation of the Ethereum price decline. Potential lower targets are $1625 and $1600 levels. We could get additional support in the EMA50 moving average in the zone around the $1610 level.

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