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.
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