Connect with us

Hi, what are you looking for?

Economy

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

BlockSpan ICO: Accelerating NFT Innovation with Confidence The BlockSpan ICO aims to revolutionize the NFT space. To achieve that goal, it will provide an...

Investing

ZIM Integrated (NYSE: ZIM) stock price has crashed hard after the company canceled its dividend as the shipping industry recoils. The shares plunged to...

Investing

IDS share price has suffered a big reversal in the past few days as demand for the stock drops. Shares of Royal Mail’s parent...

Investing

Rolls-Royce (LON: RR) share price has been dead money in the past few days as investors react to the company’s turnaround and recent financial...



Disclaimer: Frequencytraders.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 Frequencytraders.com