Bitcoin and Ethereum: Ethereum at $2300 over the weekend
The price of Bitcoin continues today with last week’s bullish consolidation, climbing above the $42000 level. Over the weekend, the price of Ethereum held above the $2040 support level.Bitcoin chart analysis
The price of Bitcoin continues today with last week’s bullish consolidation, climbing above the $42000 level. Yesterday, we saw the price jump to the $42825 level, where we encountered resistance and began a pullback. We get support at the $41700 level, and from there, we start a bullish growth that continues today. Today’s bitcoin high is $42484; we expect to retest that resistance zone. By moving above it, we could attack the next high from yesterday.
Potential higher targets are $42800 and $43000 levels. We need a price pullback to the $41500 support level for a bearish option. This is where we come across the EMA200 moving average. By falling below, we enter bearish territory. Bitcoin would be under pressure to start a further pullback and test previous support levels. Potential lower targets are $41200 and $40800 levels.
Ethereum chart analysis
Over the weekend, the price of Ethereum held above the $2040 support level. It was successful in that, and today, we see a move up to the $2275 level. Yesterday, we managed to climb above the $2300 level but quickly returned to the previous movement zone. Above, we ran into the EMA200 moving average, which this time came out victorious and sent us to test support. Today, we are looking at a bullish consolidation and a new attempt at an increase in the price of Ethereum.
$2280 is our next target, which we would have to skip in order to continue and test the $2300 level. Potential higher targets are $2320 and $2340 levels. We would have to go down to the $2040 level again for a bearish option. A drop below would form a new daily low, and thus, we get confirmation of a bearish presence. Potential lower targets are $2220 and $2200 levels.
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