Bitcoin and Ethereum: Bitcoin hovers around $30200 level
Over the weekend, the price of Bitcoin hovered in the $30,000-$30,400 range. The price of Ethereum did not last long above the $2000 level last week.Bitcoin chart analysis
Over the weekend, the price of Bitcoin hovered in the $30,000-$30,400 range. Even today, we continue in the same rhythm, which started three weeks ago. The negative for the price is that it is below the EMA50 moving average, which could cause Bitcoin to start sliding.
First, we would once again find ourselves in the $30,000 support zone. Then, the increased pressure in that place could influence us to see a breakout below and form a new low. Potential lower targets are the $29,800 and $29,600 levels. On June 30, the price fell to the $29,500 level, which could be a parameter for the strength of the bearish impulse.
We need a positive consolidation and a move up to the $30500 level for a bullish option. Then we would manage to move above the EMA50 moving average, and the potential higher targets are $30800 and $31000 levels.
Ethereum chart analysis
The price of Ethereum did not last long above the $2000 level last week. After a jump on Friday morning to the $2030 level, we saw a drop to the $1900 level on Friday afternoon. The previous weekend, the price moved in the $1915-$1940 range, with support in the EMA50 moving average.
We are currently seeing a pullback below the EMA50 and a test of support at the $1915 level. If price pressure continues, further decline is a realistic option. Potential lower targets are the $1900 and $1890 levels.
We need a positive consolidation and a return to the $1940 zone for a bullish option. Then we need to hold up there and move above that level. After that, we could expect to see a recovery and continued growth in the price of Ethereum. Potential higher targets are $1950 and $1960 levels.
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