Bitcoin and Ethereum: Bitcoin jumped to $31800 yesterday

The price of bitcoin jumped to the $31818 level yesterday. The price of Ethereum climbed back above the $2000 level this morning after two months.

Bitcoin chart analysis

The price of bitcoin jumped to the $31818 level yesterday. It took more than a year for the price of Bitcoin to return to this level. The previous time we were at that level was in June 2022. After the formation of a new high, the price retreats to the $31100 level, looking for support at that level. For now, we are managing to stay above that level and move up to the $31230 level.

We need a positive consolidation and a return to the previous resistance zone for a bullish option. Then we need an impulse to the $32000 level and a new consolidation in that zone. After that, we could think about continuing to the bullish side. Potential higher targets are $32200 and $32400 levels.

We need a negative consolidation and a new drop below the $31000 level for a bearish option. That could pull the price up to the $30,000 previous support level. A fall below it would mean a further continuation of the bearish side. Potential lower targets are $29800 and $29600 levels.

Ethereum chart analysis

The price of Ethereum climbed back above the $2000 level this morning after two months. A new high was formed at the $2030 level. From that level, the price starts to pull back and is now slowly slipping below the $2000 level. If it does not find support at the current level soon, the price of Ethereum could start a stronger bearish trend. Potential lower targets are the $1980 and $1960 levels.

We need positive consolidation and a return to the $2030 level for a bullish option. A price break above and hold above would be very beneficial for us to continue on the bullish side. Potential higher targets are $2040 and $2050 levels.

The post Bitcoin and Ethereum: Bitcoin jumped to $31800 yesterday appeared first on FinanceBrokerage.