Connect with us

Hi, what are you looking for?

Economy

Bitcoin and Ethereum: Bitcoin under pressure at $26000

Bitcoin and Ethereum: Bitcoin under pressure at $26000

Yesterday, there were no major changes on the chart, and the price of Bitcoin was moving in the $25900-$26200 range. Ethereum price continues to consolidate sideways today.

Bitcoin chart analysis

Yesterday, there were no major changes on the chart, and the price of Bitcoin was moving in the $25900-$26200 range. We are currently below the $26,000 level and could revisit the $25,900 level of support. A break below that level would take us down to $25800, the next support. If we do not manage to fight at that level either, the price will continue to retreat, forming a new low. Potential lower targets are $25700 and $25600 levels.

We need a positive consolidation and a jump to the $26200 resistance level for a bullish option. Then, we need a break above to continue to the bullish side. Additional resistance at that level is the EMA50 moving average. Potential higher targets are $26400 and $26600 levels.

Ethereum chart analysis

Ethereum price continues to consolidate sideways today. We are moving into the $1620-$1660 range for the fourth day in a row. In the zone around the $1660 level, we have additional resistance in the EMA50 moving average, and we need a break above it in order to start a more concrete recovery. Potential higher targets are $1680 and $1700 levels.

We need a price drop to the $1620 support level for a bearish option. A break below would mean that the price does not have the strength to hold there, and we will see a continuation to the bearish side. Potential lower targets are $1600 and $1580 levels.

The post Bitcoin and Ethereum: Bitcoin under pressure at $26000 appeared first on FinanceBrokerage.

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...

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...

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...



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