Connect with us

Hi, what are you looking for?

Economy

Bitcoin and Ethereum: Bitcoin climbed to the $26600 level

Bitcoin and Ethereum: Bitcoin climbed to the $26600 level

Today we see the continuation of the bullish consolidation of Bitcoin that started yesterday at the $26200 level. The price of Ethereum is in retreat today from the $1850 level.

Bitcoin chart analysis

Today we see the continuation of the bullish consolidation of Bitcoin that started yesterday at the $26200 level. Growth is progressing slowly; we are now at the $26490 level. Last night we had one price jump to the $26800 level, but we quickly returned to the starting point and continued the previous consolidation.

We need a positive consolidation and a new breakthrough to the $26800 level for a bullish option. Then we would move above the EMA50 moving average and could get its support to continue to the bullish side. Potential higher targets are $27000 and $27200 levels. If we were to slip below $26000, the pressure on the price would increase, and there would be another pullback.

Ethereum chart analysis

The price of Ethereum is in retreat today from the $1850 level. Now, we have bearish consolidation taking place, and we are close to the $1840 level. If this trend continues, we could soon test the previous low at $1820. Further instability at that level would lead to continued retreat and descent into the zone around the $1800 level.

For a bullish option, we need a positive price consolidation and a jump above the $1860 level. In this way, we would climb above the EMA50 moving average, which could positively affect the continuation of the recovery. Potential higher targets are the $1870 and $1880 levels.

The post Bitcoin and Ethereum: Bitcoin climbed to the $26600 level appeared first on FinanceBrokerage.

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.

    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    You May Also Like

    Latest News

    President Biden is asking Congress to approve nearly $100 billion in emergency funding to aid recovery efforts for the recent deadly storms that ravaged...

    Stock

    One hallmark of secular bull markets is rotation. When leading stocks, sectors, and industry groups falter, there needs to be others that grab the...

    Latest News

    Vice President Kamala Harris spent a whopping $1.5 billion during her 15-week campaign that ended in defeat to President-elect Donald Trump, including burning through...

    Latest News

    Activists on Saturday demanded that the state of California pay millions of dollars to each Black resident in reparations as a way to make...



    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